Alyeska Investment Group L.P. Boosts Stock Position in Endava plc (NYSE:DAVA)

Alyeska Investment Group L.P. raised its position in Endava plc (NYSE:DAVA) by 80.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,806,044 shares of the company’s stock after purchasing an additional 805,903 shares during the period. Alyeska Investment Group L.P. owned about 3.06% of Endava worth $55,807,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. boosted its stake in Endava by 93.1% in the 4th quarter. Assetmark Inc. now owns 985 shares of the company’s stock worth $30,000 after buying an additional 475 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Endava by 28.5% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $46,000 after acquiring an additional 331 shares during the last quarter. Quadrant Capital Group LLC increased its position in Endava by 114.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company’s stock worth $46,000 after purchasing an additional 786 shares during the last quarter. GAMMA Investing LLC raised its stake in Endava by 86.4% during the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $50,000 after purchasing an additional 745 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Endava in the 4th quarter valued at $100,000. 62.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley upped their price objective on Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Susquehanna reduced their price objective on Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Finally, Needham & Company LLC dropped their target price on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.51.

Endava Stock Performance

Endava stock opened at $18.90 on Friday. Endava plc has a 12-month low of $16.60 and a 12-month high of $34.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 171.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. The firm’s fifty day moving average price is $19.94 and its 200 day moving average price is $26.21.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, February 20th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The business had revenue of $250.63 million for the quarter, compared to analysts’ expectations of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. On average, research analysts forecast that Endava plc will post 0.57 EPS for the current fiscal year.

Endava Company 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.