Massachusetts Financial Services Co. MA Acquires 141,250 Shares of Endava plc (NYSE:DAVA)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Endava plc (NYSE:DAVA) by 30.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 601,898 shares of the company’s stock after buying an additional 141,250 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.04% of Endava worth $15,372,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mawer Investment Management Ltd. lifted its stake in shares of Endava by 613.0% in the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock worth $30,610,000 after buying an additional 1,030,403 shares during the last quarter. Paradice Investment Management LLC acquired a new position in Endava during the 2nd quarter worth $18,695,000. Fourth Sail Capital LP boosted its holdings in Endava by 36.2% during the third quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock valued at $23,782,000 after acquiring an additional 247,418 shares during the period. Millennium Management LLC grew its position in shares of Endava by 64.5% in the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock valued at $16,697,000 after purchasing an additional 223,964 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Endava by 15,560.6% in the first quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock worth $6,511,000 after purchasing an additional 170,077 shares during the period. 62.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DAVA shares. JPMorgan Chase & Co. increased their target price on Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Susquehanna lowered their price objective on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Needham & Company LLC upped their target price on shares of Endava from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Citigroup reduced their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 28th. Finally, Guggenheim dropped their price objective on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.83.

Endava Stock Performance

NYSE:DAVA opened at $28.99 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $26.15 and a 200 day moving average price of $28.32. The firm has a market capitalization of $1.67 billion, a PE ratio of 204.79 and a beta of 1.21. Endava plc has a 12-month low of $23.28 and a 12-month high of $81.06.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The company had revenue of $245.30 million for the quarter, compared to the consensus estimate of $248.65 million. Research analysts anticipate that Endava plc will post 0.65 earnings per share for the current fiscal year.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.