Alliance Wealth Advisors LLC UT Makes New Investment in Endava plc (NYSE:DAVA)

Alliance Wealth Advisors LLC UT acquired a new position in Endava plc (NYSE:DAVA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,918 shares of the company’s stock, valued at approximately $461,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DAVA. Handelsbanken Fonder AB grew its holdings in shares of Endava by 62.7% during the third quarter. Handelsbanken Fonder AB now owns 8,300 shares of the company’s stock valued at $476,000 after buying an additional 3,200 shares during the last quarter. Manning & Napier Group LLC purchased a new stake in shares of Endava during the third quarter valued at approximately $8,436,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Endava during the third quarter valued at approximately $817,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Endava by 6.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 191,500 shares of the company’s stock valued at $10,983,000 after buying an additional 12,000 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Endava by 33.6% during the third quarter. Raymond James & Associates now owns 122,851 shares of the company’s stock valued at $7,046,000 after buying an additional 30,909 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and set a $40.00 price objective on shares of Endava in a research report on Monday, April 22nd. TD Cowen lowered their price objective on shares of Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Guggenheim assumed coverage on shares of Endava in a research report on Tuesday, March 19th. They set a “buy” rating and a $60.00 price objective on the stock. Needham & Company LLC lowered their price objective on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, HSBC downgraded shares of Endava from a “buy” rating to a “hold” rating and increased their price target for the stock from $68.00 to $80.00 in a research report on Monday, January 8th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Endava currently has an average rating of “Moderate Buy” and a consensus target price of $55.56.

Endava Stock Performance

Shares of NYSE:DAVA traded up $0.72 on Friday, reaching $29.82. The company’s stock had a trading volume of 405,948 shares, compared to its average volume of 674,522. The company has a 50-day simple moving average of $39.86 and a 200 day simple moving average of $57.39. Endava plc has a 52-week low of $29.02 and a 52-week high of $81.06. The company has a market cap of $1.72 billion, a P/E ratio of 20.57 and a beta of 1.10.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Endava had a return on equity of 11.77% and a net margin of 8.88%. The firm had revenue of $227.96 million during the quarter, compared to analysts’ expectations of $231.07 million. On average, equities research analysts forecast that Endava plc will post 0.62 EPS 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.