Endava plc (NYSE:DAVA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Endava plc (NYSE:DAVA) by 2.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 66,489 shares of the company’s stock after selling 1,807 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Endava were worth $1,698,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DAVA. BNP Paribas Financial Markets raised its stake in Endava by 5.6% in the first quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock valued at $353,000 after buying an additional 495 shares in the last quarter. Sei Investments Co. raised its position in shares of Endava by 30.5% during the 1st quarter. Sei Investments Co. now owns 110,144 shares of the company’s stock worth $4,190,000 after acquiring an additional 25,716 shares in the last quarter. US Bancorp DE boosted its holdings in Endava by 11.0% in the first quarter. US Bancorp DE now owns 18,233 shares of the company’s stock valued at $694,000 after purchasing an additional 1,806 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Endava by 42.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 166,310 shares of the company’s stock valued at $6,267,000 after purchasing an additional 49,511 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Endava during the first quarter worth approximately $841,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Guggenheim dropped their target price on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Citigroup cut their target price on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 28th. Needham & Company LLC boosted their target price on Endava from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Susquehanna dropped their price target on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Finally, TD Cowen boosted their price objective on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.91.

Endava Price Performance

Shares of NYSE DAVA opened at $26.09 on Tuesday. The stock has a fifty day moving average price of $26.64 and a 200 day moving average price of $28.49. Endava plc has a 1-year low of $23.28 and a 1-year high of $81.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.74. The company has a market cap of $1.51 billion, a PE ratio of 193.64 and a beta of 1.21.

Endava (NYSE:DAVA) last issued its 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). The firm had revenue of $245.30 million during the quarter, compared to analysts’ expectations of $248.65 million. Endava had a net margin of 0.92% and a return on equity of 1.10%. Sell-side analysts forecast that Endava plc will post 0.77 EPS 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.