SRS Capital Advisors Inc. Grows Stock Holdings in Endava plc (NYSE:DAVA)

SRS Capital Advisors Inc. increased its stake in shares of Endava plc (NYSE:DAVA) by 30,344.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,740 shares of the company’s stock after purchasing an additional 2,731 shares during the period. SRS Capital Advisors Inc.’s holdings in Endava were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DAVA. Handelsbanken Fonder AB increased its holdings in Endava by 62.7% during the third quarter. Handelsbanken Fonder AB now owns 8,300 shares of the company’s stock valued at $476,000 after buying an additional 3,200 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Endava during the third quarter valued at approximately $817,000. Robeco Institutional Asset Management B.V. increased its holdings in Endava by 6.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 191,500 shares of the company’s stock valued at $10,983,000 after buying an additional 12,000 shares during the last quarter. Raymond James & Associates increased its holdings in Endava by 33.6% during the third quarter. Raymond James & Associates now owns 122,851 shares of the company’s stock valued at $7,046,000 after buying an additional 30,909 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Endava during the third quarter valued at approximately $697,000. 62.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Endava from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley reiterated an “equal weight” rating and issued a $40.00 price target on shares of Endava in a research report on Monday, April 22nd. Needham & Company LLC dropped their price target on shares of Endava from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, March 1st. TD Cowen dropped their price target on shares of Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Finally, HSBC upgraded shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Endava Trading Down 0.8 %

Shares of NYSE:DAVA traded down $0.25 during midday trading on Friday, reaching $30.90. 319,727 shares of the company were exchanged, compared to its average volume of 629,079. The business’s fifty day moving average is $36.25 and its two-hundred day moving average is $56.44. Endava plc has a one year low of $28.99 and a one year high of $81.06. The stock has a market cap of $1.78 billion, a PE ratio of 21.26 and a beta of 1.14.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. As a group, sell-side analysts expect that Endava plc will post 0.62 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.