Arizona PSPRS Trust Makes New $470,000 Investment in Endava plc (NYSE:DAVA)

Arizona PSPRS Trust bought a new stake in Endava plc (NYSE:DAVA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,200 shares of the company’s stock, valued at approximately $470,000. Endava makes up approximately 0.0% of Arizona PSPRS Trust’s investment portfolio, making the stock its 16th largest position.

A number of other hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Endava by 120.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,165 shares of the company’s stock worth $515,000 after purchasing an additional 11,020 shares in the last quarter. FMR LLC lifted its position in Endava by 1.4% in the 3rd quarter. FMR LLC now owns 952,515 shares of the company’s stock worth $24,327,000 after buying an additional 13,106 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Endava by 24.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 32,403 shares of the company’s stock valued at $828,000 after buying an additional 6,320 shares during the period. HighTower Advisors LLC grew its holdings in shares of Endava by 11.7% during the 3rd quarter. HighTower Advisors LLC now owns 15,143 shares of the company’s stock valued at $390,000 after acquiring an additional 1,592 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Endava by 33.0% in the third quarter. State Street Corp now owns 80,148 shares of the company’s stock worth $2,047,000 after acquiring an additional 19,884 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on DAVA shares. Susquehanna reduced their price objective on Endava from $55.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Morgan Stanley boosted their price target on Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC cut their price objective on shares of Endava from $43.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Endava Price Performance

Shares of Endava stock opened at $17.43 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $26.02 and a 200-day simple moving average of $27.42. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 158.49, a PEG ratio of 2.26 and a beta of 1.33. Endava plc has a 1-year low of $16.70 and a 1-year high of $34.94.

Endava (NYSE:DAVA) last released its earnings results on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The firm had revenue of $250.63 million for the quarter, compared to analyst estimates of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. On average, sell-side analysts expect that Endava plc will post 0.57 earnings per share 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.