Russell Investments Group Ltd. Grows Stake in Endava plc (NYSE:DAVA)

Russell Investments Group Ltd. lifted its holdings in shares of Endava plc (NYSE:DAVA) by 74.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 115,390 shares of the company’s stock after acquiring an additional 49,344 shares during the period. Russell Investments Group Ltd. owned 0.20% of Endava worth $8,983,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DAVA. Redwood Investments LLC lifted its holdings in shares of Endava by 666.2% in the 4th quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock valued at $3,149,000 after purchasing an additional 35,175 shares during the last quarter. Simon Quick Advisors LLC purchased a new position in shares of Endava during the fourth quarter worth approximately $5,074,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Endava by 76.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 115,000 shares of the company’s stock valued at $6,595,000 after acquiring an additional 50,000 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Endava in the 3rd quarter valued at $280,000. Finally, FMR LLC boosted its stake in Endava by 16.5% during the 3rd quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after purchasing an additional 256,250 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on DAVA. JPMorgan Chase & Co. reduced their target price on shares of Endava from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Citigroup dropped their target price on Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $40.00 price objective on shares of Endava in a research report on Monday, April 22nd. HSBC upgraded shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, May 1st. Finally, Needham & Company LLC lowered their price objective on Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Endava Price Performance

NYSE DAVA opened at $32.18 on Tuesday. The business has a 50 day moving average price of $35.59 and a 200 day moving average price of $56.23. The company has a market capitalization of $1.86 billion, a P/E ratio of 22.19 and a beta of 1.14. Endava plc has a 1-year low of $28.99 and a 1-year high of $81.06.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $231.07 million. On average, research analysts expect 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.