Institute for Wealth Management LLC. Acquires 861 Shares of Endava plc (NYSE:DAVA)

Institute for Wealth Management LLC. raised its holdings in shares of Endava plc (NYSE:DAVA) by 14.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,818 shares of the company’s stock after purchasing an additional 861 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Endava were worth $531,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of Endava by 433.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 480 shares of the company’s stock worth $39,000 after acquiring an additional 390 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Endava in the 1st quarter worth $88,000. Financial Management Professionals Inc. bought a new position in Endava during the fourth quarter valued at about $81,000. Signaturefd LLC grew its position in Endava by 194.9% during the third quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock valued at $66,000 after buying an additional 762 shares during the period. Finally, Captrust Financial Advisors grew its position in Endava by 30.5% during the first quarter. Captrust Financial Advisors now owns 1,218 shares of the company’s stock valued at $162,000 after buying an additional 285 shares during the period. Institutional investors own 62.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup restated 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. Needham & Company LLC reduced their price target on shares of Endava from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price target for the company in a research report on Tuesday, March 19th. Morgan Stanley downgraded shares of Endava from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $68.00 to $80.00 in a report on Wednesday, January 24th. Finally, HSBC downgraded shares of Endava from a “buy” rating to a “hold” rating and upped their price objective for the company from $68.00 to $80.00 in a report on Monday, January 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.78.

Endava Stock Down 1.4 %

Shares of DAVA stock opened at $29.92 on Friday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 20.63 and a beta of 1.10. Endava plc has a 52 week low of $29.54 and a 52 week high of $81.06. The stock has a fifty day moving average of $44.48 and a 200 day moving average of $58.54.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Endava had a net margin of 8.88% and a return on equity of 11.77%. The company had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. Equities research analysts anticipate that Endava plc will post 0.66 earnings per share 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.