Norden Group LLC Increases Stock Position in Endava plc (NYSE:DAVA)

Norden Group LLC grew its position in Endava plc (NYSE:DAVA) by 2,587.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,254 shares of the company’s stock after purchasing an additional 211,096 shares during the period. Norden Group LLC owned about 0.38% of Endava worth $8,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. grew its position in Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after buying an additional 165 shares during the period. Quadrant Capital Group LLC grew its position in Endava by 34.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock valued at $111,000 after buying an additional 368 shares during the period. Capital International Sarl grew its position in Endava by 4.3% during the fourth quarter. Capital International Sarl now owns 16,996 shares of the company’s stock valued at $1,323,000 after buying an additional 708 shares during the period. PNC Financial Services Group Inc. grew its position in Endava by 18.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,316 shares of the company’s stock valued at $414,000 after buying an additional 833 shares during the period. Finally, Institute for Wealth Management LLC. grew its position in Endava by 14.5% during the fourth quarter. Institute for Wealth Management LLC. now owns 6,818 shares of the company’s stock valued at $531,000 after buying an additional 861 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Analysts Set New Price Targets

DAVA has been the subject of several research reports. Guggenheim reduced their price target on shares of Endava from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Needham & Company LLC cut their target price on shares of Endava from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Redburn Atlantic started coverage on shares of Endava in a research report on Friday, May 24th. They set a “neutral” rating and a $33.10 target price for the company. Morgan Stanley reiterated an “equal weight” rating and set a $40.00 target price on shares of Endava in a research report on Monday, April 22nd. Finally, TD Cowen cut their target price on shares of Endava from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Endava presently has a consensus rating of “Moderate Buy” and an average price target of $46.41.

Endava Trading Up 0.1 %

DAVA stock opened at $30.00 on Friday. The firm has a 50 day moving average of $28.66 and a 200-day moving average of $46.76. Endava plc has a 12 month low of $24.51 and a 12 month high of $81.06. The firm has a market capitalization of $1.73 billion, a P/E ratio of 33.33 and a beta of 1.22.

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

Endava Company 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.