Allspring Global Investments Holdings LLC Sells 6,654 Shares of Endava plc (NYSE:DAVA)

Allspring Global Investments Holdings LLC reduced its stake in shares of Endava plc (NYSE:DAVA) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,683 shares of the company’s stock after selling 6,654 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Endava were worth $4,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Redwood Investments LLC lifted its stake in shares of Endava by 666.2% in the fourth quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock worth $3,149,000 after buying an additional 35,175 shares during the last quarter. Simon Quick Advisors LLC acquired a new position in Endava during the 4th quarter worth $5,074,000. Portside Wealth Group LLC acquired a new position in Endava during the 4th quarter worth $841,000. Raymond James & Associates boosted its holdings in Endava by 9.4% during the fourth quarter. Raymond James & Associates now owns 134,381 shares of the company’s stock valued at $10,462,000 after acquiring an additional 11,530 shares during the period. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Endava in the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 62.23% of the company’s stock.

Endava Price Performance

DAVA opened at $29.92 on Friday. The company has a market capitalization of $1.73 billion, a P/E ratio of 20.63 and a beta of 1.10. The firm’s fifty day moving average price is $44.48 and its two-hundred day moving average price is $58.54. Endava plc has a fifty-two week low of $29.54 and a fifty-two week high of $81.06.

Endava (NYSE:DAVA) last issued its 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 business had revenue of $227.96 million for the quarter, compared to analyst estimates of $231.07 million. On average, equities research analysts expect that Endava plc will post 0.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price objective for the company in a research report on Tuesday, March 19th. Citigroup reissued a “neutral” rating and issued a $40.00 price objective (down from $90.00) on shares of Endava in a research report on Friday, March 1st. Morgan Stanley cut shares of Endava from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $68.00 to $80.00 in a research note on Wednesday, January 24th. TD Cowen decreased their price target on shares of Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Finally, Guggenheim assumed coverage on shares of Endava in a report on Tuesday, March 19th. They set a “buy” rating and a $60.00 price objective on the stock. Three investment 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 has an average rating of “Moderate Buy” and a consensus target price of $60.78.

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.