Park Avenue Securities LLC Sells 563 Shares of Endava plc (NYSE:DAVA)

Park Avenue Securities LLC lowered its position in shares of Endava plc (NYSE:DAVA) by 5.7% in the first quarter, Holdings Channel reports. The institutional investor owned 9,391 shares of the company’s stock after selling 563 shares during the period. Park Avenue Securities LLC’s holdings in Endava were worth $357,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Redwood Investments LLC increased its position in Endava by 666.2% during the fourth quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock worth $3,149,000 after acquiring an additional 35,175 shares during the period. Simon Quick Advisors LLC acquired a new position in shares of Endava during the 4th quarter worth approximately $5,074,000. Adage Capital Partners GP L.L.C. raised its position in shares of Endava by 76.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 115,000 shares of the company’s stock valued at $6,595,000 after buying an additional 50,000 shares in the last quarter. US Bancorp DE boosted its stake in shares of Endava by 2,113.9% in the fourth quarter. US Bancorp DE now owns 16,427 shares of the company’s stock valued at $1,279,000 after buying an additional 15,685 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Endava during the fourth quarter worth approximately $17,540,000. Institutional investors own 62.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Guggenheim dropped their price objective on Endava from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, May 24th. Needham & Company LLC cut their price objective on shares of Endava from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Wedbush decreased their target price on shares of Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. TD Cowen dropped their target price on shares of Endava from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Citigroup reduced their price target on shares of Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Endava currently has an average rating of “Moderate Buy” and a consensus target price of $46.41.

Endava Price Performance

Shares of NYSE:DAVA opened at $29.24 on Monday. Endava plc has a one year low of $24.51 and a one year high of $81.06. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 32.49 and a beta of 1.21. The firm has a 50 day simple moving average of $28.66 and a 200 day simple moving average of $47.58.

Endava (NYSE:DAVA) last announced its quarterly earnings results on Thursday, May 23rd. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). Endava had a net margin of 5.69% and a return on equity of 7.13%. The firm had revenue of $221.14 million during the quarter, compared to the consensus estimate of $220.59 million. As a group, analysts expect that Endava plc will post 0.51 EPS for the current 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.