Wasatch Advisors LP Has $48.03 Million Position in Endava plc (NYSE:DAVA)

Wasatch Advisors LP boosted its stake in shares of Endava plc (NYSE:DAVA) by 2.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,262,478 shares of the company’s stock after buying an additional 24,699 shares during the quarter. Wasatch Advisors LP’s holdings in Endava were worth $48,025,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Assetmark Inc. raised its position in shares of Endava by 47.8% in the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after acquiring an additional 165 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Endava by 34.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock worth $111,000 after acquiring an additional 368 shares in the last quarter. Capital International Sarl raised its position in shares of Endava by 4.3% in the 4th quarter. Capital International Sarl now owns 16,996 shares of the company’s stock worth $1,323,000 after acquiring an additional 708 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Endava by 18.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,316 shares of the company’s stock worth $414,000 after acquiring an additional 833 shares in the last quarter. Finally, Institute for Wealth Management LLC. raised its position in shares of Endava by 14.5% in the 4th quarter. Institute for Wealth Management LLC. now owns 6,818 shares of the company’s stock worth $531,000 after acquiring an additional 861 shares in the last quarter. 62.23% of the stock is owned by institutional investors.

Endava Trading Up 3.0 %

Shares of NYSE:DAVA opened at $29.97 on Wednesday. The stock has a market capitalization of $1.73 billion, a P/E ratio of 33.30 and a beta of 1.22. Endava plc has a 12-month low of $24.51 and a 12-month high of $81.06. The stock’s 50-day moving average price is $28.64 and its 200-day moving average price is $47.00.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, May 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.10). The business had revenue of $221.14 million during the quarter, compared to the consensus estimate of $220.59 million. Endava had a return on equity of 7.13% and a net margin of 5.69%. As a group, research analysts predict that Endava plc will post 0.51 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on DAVA. Wedbush lowered their price objective on Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $40.00 target price on shares of Endava in a research report on Monday, April 22nd. Citigroup decreased their target price on Endava from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. JPMorgan Chase & Co. decreased their target price on Endava from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Finally, Needham & Company LLC cut their price target on Endava from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Endava has an average rating of “Moderate Buy” and a consensus price target of $46.41.

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.