Alberta Investment Management Corp Sells 338,334 Shares of Endava PLC Sponsored ADR $DAVA

Alberta Investment Management Corp lowered its stake in shares of Endava PLC Sponsored ADR (NYSE:DAVA) by 26.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 950,000 shares of the company’s stock after selling 338,334 shares during the quarter. Alberta Investment Management Corp’s holdings in Endava were worth $8,645,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in shares of Endava by 733.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock valued at $29,000 after acquiring an additional 1,680 shares during the last quarter. Vident Advisory LLC acquired a new position in Endava during the second quarter valued at approximately $160,000. GSA Capital Partners LLP bought a new stake in Endava in the third quarter valued at approximately $160,000. Benjamin Edwards Inc. acquired a new stake in Endava in the second quarter worth $198,000. Finally, Geode Capital Management LLC bought a new position in shares of Endava during the second quarter worth $205,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on DAVA shares. Zacks Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Guggenheim cut their price objective on Endava from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, February 13th. William Blair cut Endava from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 11th. Morgan Stanley cut their price target on shares of Endava from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Endava from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Endava has a consensus rating of “Hold” and an average target price of $16.14.

Endava Trading Up 3.2%

NYSE:DAVA opened at $5.26 on Thursday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.34. Endava PLC Sponsored ADR has a twelve month low of $4.84 and a twelve month high of $33.29. The company has a market cap of $295.38 million, a P/E ratio of 26.28 and a beta of 1.26. The business has a 50 day moving average price of $6.33 and a two-hundred day moving average price of $8.42.

Endava Company Profile

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.