Norden Group LLC Boosts Holdings in Endava plc (NYSE:DAVA)

Norden Group LLC grew its position in Endava plc (NYSE:DAVA) by 18.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,798 shares of the company’s stock after buying an additional 2,488 shares during the period. Norden Group LLC’s holdings in Endava were worth $488,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DAVA. Mawer Investment Management Ltd. grew its stake in shares of Endava by 613.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after buying an additional 1,030,403 shares during the period. SG Americas Securities LLC grew its stake in shares of Endava by 1,299.1% in the 4th quarter. SG Americas Securities LLC now owns 430,366 shares of the company’s stock valued at $13,298,000 after buying an additional 399,605 shares during the period. Fourth Sail Capital LP grew its stake in shares of Endava by 36.2% in the 3rd quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock valued at $23,782,000 after buying an additional 247,418 shares during the period. Paradice Investment Management LLC grew its stake in shares of Endava by 24.3% in the 4th quarter. Paradice Investment Management LLC now owns 931,024 shares of the company’s stock valued at $28,769,000 after buying an additional 181,868 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Endava by 30.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 601,898 shares of the company’s stock worth $15,372,000 after purchasing an additional 141,250 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DAVA shares. Susquehanna lowered their price objective on shares of Endava from $55.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Needham & Company LLC lowered their price objective on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Morgan Stanley increased their price objective on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. TD Cowen increased their price objective on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, 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 report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.10.

Endava Price Performance

Endava stock opened at $23.72 on Tuesday. The firm has a market cap of $1.40 billion, a PE ratio of 215.64, a price-to-earnings-growth ratio of 2.26 and a beta of 1.22. Endava plc has a 52-week low of $23.28 and a 52-week high of $40.65. 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’s 50 day moving average is $31.08 and its two-hundred day moving average is $29.13.

Endava (NYSE:DAVA) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). Endava had a net margin of 0.74% and a return on equity of 0.89%. The firm had revenue of $250.63 million during the quarter, compared to analyst estimates of $197.33 million. On average, research analysts expect that Endava plc will post 0.57 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.