Equitable Trust Co. Sells 1,076 Shares of Endava plc (NYSE:DAVA)

Equitable Trust Co. cut its holdings in shares of Endava plc (NYSE:DAVA) by 19.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,587 shares of the company’s stock after selling 1,076 shares during the quarter. Equitable Trust Co.’s holdings in Endava were worth $357,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DAVA. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Endava by 113.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 3,428 shares of the company’s stock worth $456,000 after purchasing an additional 1,819 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Endava by 61.6% during the first quarter. Bank of New York Mellon Corp now owns 2,061 shares of the company’s stock worth $274,000 after purchasing an additional 786 shares during the period. Cetera Advisor Networks LLC bought a new position in shares of Endava during the first quarter worth approximately $363,000. Citigroup Inc. increased its holdings in shares of Endava by 1,461.2% during the first quarter. Citigroup Inc. now owns 10,913 shares of the company’s stock worth $1,451,000 after purchasing an additional 10,214 shares during the period. Finally, Synovus Financial Corp increased its holdings in shares of Endava by 32.4% during the first quarter. Synovus Financial Corp now owns 9,044 shares of the company’s stock worth $1,204,000 after purchasing an additional 2,211 shares during the period. 62.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DAVA shares. JPMorgan Chase & Co. upgraded shares of Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a research report on Tuesday, March 19th. Guggenheim started coverage on shares of Endava in a research report on Tuesday, March 19th. They set a “buy” rating and a $60.00 price target on the stock. Morgan Stanley lowered shares of Endava from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $68.00 to $80.00 in a research report on Wednesday, January 24th. HSBC lowered shares of Endava from a “buy” rating to a “hold” rating and increased their price target for the stock from $68.00 to $80.00 in a research report on Monday, January 8th. Finally, Citigroup reiterated a “neutral” rating and set a $40.00 price target (down previously from $90.00) on shares of Endava in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.78.

Endava Stock Performance

DAVA stock opened at $34.05 on Tuesday. The company has a fifty day moving average price of $50.80 and a 200-day moving average price of $60.06. The company has a market capitalization of $1.97 billion, a P/E ratio of 23.48 and a beta of 1.10. Endava plc has a 52-week low of $33.95 and a 52-week high of $81.06.

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 the consensus estimate of $0.18 by ($0.01). The business had revenue of $227.96 million for the quarter, compared to the consensus estimate 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 forecast that Endava plc will post 0.66 earnings per share for the current fiscal 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.