Malaga Cove Capital LLC Grows Stake in Endava plc (NYSE:DAVA)

Malaga Cove Capital LLC raised its stake in shares of Endava plc (NYSE:DAVA) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,669 shares of the company’s stock after purchasing an additional 2,294 shares during the period. Malaga Cove Capital LLC’s holdings in Endava were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Signaturefd LLC grew its position in Endava by 194.9% in the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock valued at $66,000 after acquiring an additional 762 shares during the last quarter. Financial Management Professionals Inc. bought a new position in shares of Endava in the 4th quarter worth $81,000. Citigroup Inc. lifted its stake in shares of Endava by 4,429.2% during the 3rd quarter. Citigroup Inc. now owns 2,174 shares of the company’s stock worth $125,000 after purchasing an additional 2,126 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in Endava during the third quarter valued at about $149,000. Finally, Truist Financial Corp bought a new position in Endava in the fourth quarter worth about $207,000. 62.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DAVA has been the topic of several recent analyst reports. Citigroup reduced their target price on Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Endava from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley restated an “equal weight” rating and issued a $40.00 price objective on shares of Endava in a report on Monday, April 22nd. Needham & Company LLC cut their price target on Endava from $70.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, TD Cowen decreased their price target on Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Endava Trading Down 0.8 %

Shares of NYSE DAVA traded down $0.25 during trading on Friday, reaching $30.90. The company had a trading volume of 319,727 shares, compared to its average volume of 629,079. Endava plc has a twelve month low of $28.99 and a twelve month high of $81.06. The stock has a 50-day moving average price of $36.25 and a two-hundred day moving average price of $56.42. The stock has a market capitalization of $1.78 billion, a PE ratio of 21.31 and a beta of 1.14.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, February 29th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Endava had a net margin of 8.88% and a return on equity of 11.77%. The firm had revenue of $227.96 million during the quarter, compared to analyst estimates of $231.07 million. On average, sell-side analysts predict that Endava plc will post 0.62 EPS for the current year.

About Endava

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.