Endava plc (NYSE:DAVA) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its position in Endava plc (NYSE:DAVA) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,321 shares of the company’s stock after purchasing an additional 11,071 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.17% of Endava worth $7,654,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in Endava during the 4th quarter worth about $81,000. Signaturefd LLC lifted its position in shares of Endava by 194.9% during the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock worth $66,000 after buying an additional 762 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Endava by 41.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock valued at $69,000 after buying an additional 364 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Endava by 4,429.2% in the 3rd quarter. Citigroup Inc. now owns 2,174 shares of the company’s stock valued at $125,000 after buying an additional 2,126 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in shares of Endava in the 3rd quarter valued at $149,000. 62.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DAVA. JPMorgan Chase & Co. upgraded shares of Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price objective for the company in a research note on Tuesday, March 19th. HSBC cut shares of Endava from a “buy” rating to a “hold” rating and lifted their target price for the company from $68.00 to $80.00 in a report on Monday, January 8th. TD Cowen decreased their price target on shares of Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Needham & Company LLC dropped their price objective on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $40.00 target price on shares of Endava in a report on Monday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.56.

Endava Trading Up 2.4 %

Shares of DAVA traded up $0.70 during mid-day trading on Friday, hitting $29.80. The company’s stock had a trading volume of 405,835 shares, compared to its average volume of 577,906. Endava plc has a 1-year low of $29.02 and a 1-year high of $81.06. The firm has a market capitalization of $1.72 billion, a P/E ratio of 20.57 and a beta of 1.10. The firm has a 50-day simple moving average of $40.60 and a 200 day simple moving average of $57.61.

Endava (NYSE:DAVA) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $227.96 million during the quarter, compared to analysts’ expectations of $231.07 million. Endava had a return on equity of 11.77% and a net margin of 8.88%. As a group, sell-side analysts predict that Endava plc will post 0.62 EPS for the current fiscal year.

Endava 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.