FourThought Financial Partners LLC Reduces Position in Endava plc (NYSE:DAVA)

FourThought Financial Partners LLC lowered its position in Endava plc (NYSE:DAVA) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,807 shares of the company’s stock after selling 1,156 shares during the quarter. FourThought Financial Partners LLC’s holdings in Endava were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of DAVA. FMR LLC boosted its stake in shares of Endava by 16.5% during the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after buying an additional 256,250 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Endava in the 3rd quarter valued at approximately $58,433,000. Invesco Ltd. increased its holdings in shares of Endava by 156.5% in the third quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock valued at $49,669,000 after purchasing an additional 528,384 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Endava during the fourth quarter worth approximately $17,540,000. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Endava by 22.6% during the third quarter. Eagle Asset Management Inc. now owns 215,960 shares of the company’s stock worth $12,385,000 after purchasing an additional 39,772 shares during the period. 62.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. 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. Morgan Stanley reissued an “equal weight” rating and set a $40.00 price target on shares of Endava in a report on Monday, April 22nd. JPMorgan Chase & Co. lowered their price objective on Endava from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday. Citigroup cut their target price on Endava from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Finally, HSBC raised Endava from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Endava has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Endava Trading Down 0.8 %

Shares of NYSE:DAVA traded down $0.25 during trading on Friday, hitting $30.90. 319,727 shares of the stock were exchanged, compared to its average volume of 629,079. The company has a market cap of $1.78 billion, a PE ratio of 21.31 and a beta of 1.14. The company has a fifty day moving average price of $36.25 and a two-hundred day moving average price of $56.42. Endava plc has a 12-month low of $28.99 and a 12-month high of $81.06.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, February 29th. The company reported $0.17 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 for the quarter, compared to analysts’ expectations of $231.07 million. Equities research analysts anticipate that Endava plc will post 0.62 earnings per share for the current fiscal 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.