Handelsbanken Fonder AB Purchases 6,500 Shares of Endava plc (NYSE:DAVA)

Handelsbanken Fonder AB boosted its holdings in shares of Endava plc (NYSE:DAVA) by 78.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,800 shares of the company’s stock after buying an additional 6,500 shares during the period. Handelsbanken Fonder AB’s holdings in Endava were worth $378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DAVA. Wasatch Advisors LP boosted its position in shares of Endava by 2.0% during the 1st quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock valued at $48,025,000 after acquiring an additional 24,699 shares during the last quarter. Fourth Sail Capital LP purchased a new stake in shares of Endava during the 1st quarter valued at $27,622,000. Paradice Investment Management LLC bought a new stake in shares of Endava during the 2nd quarter worth $18,695,000. Millennium Management LLC grew its position in Endava by 64.5% in the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock worth $16,697,000 after acquiring an additional 223,964 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in Endava by 9.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock valued at $11,868,000 after purchasing an additional 27,797 shares in the last quarter. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Endava Trading Up 6.3 %

NYSE DAVA opened at $26.26 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.74 and a current ratio of 1.74. Endava plc has a fifty-two week low of $23.28 and a fifty-two week high of $81.06. The stock has a market cap of $1.52 billion, a P/E ratio of 29.18 and a beta of 1.21. The stock has a 50 day simple moving average of $28.82 and a two-hundred day simple moving average of $29.61.

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 the consensus estimate of $0.09 by ($0.13). Endava had a net margin of 2.30% and a return on equity of 2.76%. The company had revenue of $245.30 million during the quarter, compared to the consensus estimate of $248.65 million. On average, analysts forecast that Endava plc will post 0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

DAVA has been the topic of several recent research reports. Needham & Company LLC reduced their price objective on Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Guggenheim reduced their price target on shares of Endava from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. boosted their price objective on shares of Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Susquehanna reduced their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Endava currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.31.

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.