Massachusetts Financial Services Co. MA Has $15.37 Million Stake in Endava plc (NYSE:DAVA)

Massachusetts Financial Services Co. MA lifted its stake in Endava plc (NYSE:DAVA) by 30.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 601,898 shares of the company’s stock after purchasing an additional 141,250 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Endava were worth $15,372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mawer Investment Management Ltd. lifted its stake in shares of Endava by 613.0% during the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after acquiring an additional 1,030,403 shares during the period. Fourth Sail Capital LP lifted its position in Endava by 36.2% during the 3rd quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock valued at $23,782,000 after purchasing an additional 247,418 shares during the period. Paradice Investment Management LLC bought a new position in shares of Endava in the 2nd quarter valued at about $18,695,000. Millennium Management LLC grew its position in shares of Endava by 64.5% during the 2nd quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock worth $16,697,000 after buying an additional 223,964 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Endava by 9.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock worth $11,868,000 after buying an additional 27,797 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

Analyst Upgrades and Downgrades

DAVA has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. TD Cowen lifted their price objective on Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC increased their target price on Endava from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Bank of America began coverage on Endava in a research report on Friday. They set a “neutral” rating and a $29.00 target price for the company. Finally, Susquehanna cut their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.83.

Endava Stock Up 1.1 %

Endava stock opened at $28.99 on Tuesday. The company has a 50 day moving average of $26.15 and a 200-day moving average of $28.32. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. Endava plc has a twelve month low of $23.28 and a twelve month high of $81.06. The stock has a market capitalization of $1.67 billion, a PE ratio of 204.79 and a beta of 1.21.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The company had revenue of $245.30 million during the quarter, compared to analyst estimates of $248.65 million. On average, equities research analysts anticipate that Endava plc will post 0.65 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.