Malaga Cove Capital LLC Increases Holdings in Endava plc (NYSE:DAVA)

Malaga Cove Capital LLC grew its holdings in Endava plc (NYSE:DAVA) by 5.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 36,617 shares of the company’s stock after acquiring an additional 1,858 shares during the quarter. Malaga Cove Capital LLC owned about 0.06% of Endava worth $935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. acquired a new stake in Endava during the third quarter worth approximately $30,000. Headlands Technologies LLC acquired a new stake in Endava during the 1st quarter worth $49,000. Signaturefd LLC lifted its position in Endava by 84.1% in the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after acquiring an additional 886 shares during the last quarter. Seven Eight Capital LP acquired a new position in Endava in the second quarter valued at $216,000. Finally, Precision Wealth Strategies LLC grew its holdings in shares of Endava by 6.7% during the third quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock worth $219,000 after purchasing an additional 540 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

Endava Stock Up 3.7 %

Shares of NYSE:DAVA opened at $24.48 on Thursday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 68.00 and a beta of 1.21. Endava plc has a fifty-two week low of $23.28 and a fifty-two week high of $81.06. The firm’s 50-day simple moving average is $27.11 and its 200-day simple moving average is $28.60. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.23.

Endava (NYSE:DAVA) last released its earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.13). The business had revenue of $245.30 million for the quarter, compared to analyst estimates of $248.65 million. Endava had a return on equity of 2.75% and a net margin of 2.30%. As a group, equities research analysts predict that Endava plc will post 0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

DAVA has been the subject of several research reports. Susquehanna reduced their target price on Endava from $66.00 to $55.00 and set a “positive” rating for the company in a report on Friday, September 20th. Needham & Company LLC reduced their price objective on Endava from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Guggenheim lowered 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. JPMorgan Chase & Co. lifted their target price on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Citigroup decreased their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Endava currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.21.

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.