Endava plc (NYSE:DAVA) Stock Position Raised by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lifted its position in Endava plc (NYSE:DAVA) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,763 shares of the company’s stock after buying an additional 1,972 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Endava were worth $315,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of Endava by 3.2% in the 4th quarter. Capital International Investors now owns 2,115,202 shares of the company’s stock valued at $164,668,000 after acquiring an additional 65,794 shares in the last quarter. CDAM UK Ltd grew its holdings in Endava by 1.8% in the 4th quarter. CDAM UK Ltd now owns 1,451,449 shares of the company’s stock valued at $112,995,000 after buying an additional 25,570 shares during the last quarter. Wasatch Advisors LP increased its position in Endava by 2.0% in the 1st quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock worth $48,025,000 after buying an additional 24,699 shares during the period. Capital World Investors lifted its holdings in shares of Endava by 39.3% during the fourth quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after buying an additional 278,300 shares during the last quarter. Finally, Fourth Sail Capital LP acquired a new position in shares of Endava during the first quarter worth approximately $27,622,000. Institutional investors and hedge funds own 62.23% of the company’s stock.

Endava Trading Up 4.5 %

Shares of Endava stock opened at $31.38 on Monday. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 34.87 and a beta of 1.22. The firm’s 50-day moving average price is $29.58 and its two-hundred day moving average price is $34.95. Endava plc has a 1-year low of $24.51 and a 1-year high of $81.06.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. TD Cowen cut their price objective 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. Redburn Atlantic began coverage on shares of Endava in a research note on Friday, May 24th. They issued a “neutral” rating and a $33.10 target price for the company. HSBC upgraded Endava from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Wednesday, May 1st. Finally, Wedbush reduced their price objective on Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Endava has an average rating of “Moderate Buy” and a consensus price target of $46.41.

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.