Mawer Investment Management Ltd. Grows Stock Holdings in Endava plc (NYSE:DAVA)

Mawer Investment Management Ltd. boosted its stake in Endava plc (NYSE:DAVA) by 613.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,198,500 shares of the company’s stock after purchasing an additional 1,030,403 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Endava were worth $30,610,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DAVA. Paradice Investment Management LLC bought a new position in Endava in the 2nd quarter valued at $18,695,000. Fourth Sail Capital LP raised its position 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 purchasing an additional 247,418 shares during the last quarter. Millennium Management LLC grew its position in 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 purchasing an additional 223,964 shares during the last quarter. Lazard Asset Management LLC increased its stake in Endava by 15,560.6% during the 1st quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock valued at $6,511,000 after purchasing an additional 170,077 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Endava by 4,578.4% in the second quarter. Acadian Asset Management LLC now owns 169,500 shares of the company’s stock worth $4,949,000 after buying an additional 165,877 shares during the last quarter. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on DAVA shares. Citigroup lowered their price target on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. Needham & Company LLC upped their price objective on shares of Endava from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen boosted their target price on shares of Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Susquehanna dropped their target price on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Endava currently has a consensus rating of “Moderate Buy” and an average price target of $40.91.

Endava Trading Up 1.2 %

Shares of Endava stock traded up $0.32 during mid-day trading on Monday, hitting $27.20. The stock had a trading volume of 7,115 shares, compared to its average volume of 535,775. The firm has a market cap of $1.57 billion, a P/E ratio of 192.00 and a beta of 1.21. The company has a quick ratio of 1.74, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $26.64 and a two-hundred day moving average of $28.51. Endava plc has a 12-month low of $23.28 and a 12-month high of $81.06.

Endava (NYSE:DAVA) last released its quarterly 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). The business had revenue of $245.30 million for the quarter, compared to analysts’ expectations of $248.65 million. Endava had a return on equity of 1.10% and a net margin of 0.92%. Sell-side analysts forecast that Endava plc will post 0.77 earnings per share for the current 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.