Geode Capital Management LLC Lowers Stake in Endava plc (NYSE:DAVA)

Geode Capital Management LLC reduced its stake in shares of Endava plc (NYSE:DAVA) by 20.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,524 shares of the company’s stock after selling 2,451 shares during the quarter. Geode Capital Management LLC’s holdings in Endava were worth $243,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mawer Investment Management Ltd. boosted 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 purchasing an additional 1,030,403 shares during the period. AEGON ASSET MANAGEMENT UK Plc lifted its stake in Endava by 8.7% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 245,772 shares of the company’s stock worth $6,279,000 after acquiring an additional 19,669 shares during the period. XTX Topco Ltd purchased a new stake in Endava in the second quarter worth about $941,000. State Street Corp lifted its stake in Endava by 33.0% in the third quarter. State Street Corp now owns 80,148 shares of the company’s stock worth $2,047,000 after acquiring an additional 19,884 shares during the period. Finally, Horrell Capital Management Inc. lifted its stake in Endava by 76.5% in the third quarter. Horrell Capital Management Inc. now owns 150,000 shares of the company’s stock worth $3,831,000 after acquiring an additional 65,000 shares during the period. 62.23% of the stock is owned by hedge funds and other institutional investors.

Endava Stock Performance

DAVA opened at $31.09 on Tuesday. Endava plc has a 52-week low of $23.28 and a 52-week high of $81.06. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.84 billion, a P/E ratio of 222.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.22. The firm’s 50-day moving average price is $29.32 and its 200-day moving average price is $28.91.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC upped their price objective on shares of Endava from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday. Guggenheim lowered their price objective on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen upped their price objective on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup lowered their price objective on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 28th. Finally, Susquehanna decreased their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Four equities 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.46.

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.