Acadian Asset Management LLC Sells 227,663 Shares of Endava PLC Sponsored ADR $DAVA

Acadian Asset Management LLC reduced its stake in shares of Endava PLC Sponsored ADR (NYSE:DAVA) by 59.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 154,719 shares of the company’s stock after selling 227,663 shares during the period. Acadian Asset Management LLC owned 0.26% of Endava worth $3,010,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Endava in the first quarter valued at about $25,000. State of Wyoming increased its position in Endava by 112.7% during the 1st quarter. State of Wyoming now owns 2,367 shares of the company’s stock valued at $46,000 after purchasing an additional 1,254 shares during the period. Smartleaf Asset Management LLC raised its holdings in Endava by 23.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company’s stock worth $72,000 after purchasing an additional 689 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Endava in the 1st quarter valued at $203,000. Finally, Jane Street Group LLC boosted its stake in shares of Endava by 16.1% in the 1st quarter. Jane Street Group LLC now owns 10,682 shares of the company’s stock valued at $208,000 after purchasing an additional 1,482 shares during the last quarter. Institutional investors own 62.23% of the company’s stock.

Endava Stock Down 4.6%

DAVA opened at $9.43 on Tuesday. The stock has a market cap of $556.60 million, a price-to-earnings ratio of 20.95 and a beta of 1.13. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $12.96 and its two-hundred day moving average price is $16.13. Endava PLC Sponsored ADR has a twelve month low of $9.34 and a twelve month high of $34.94.

Analyst Upgrades and Downgrades

A number of analysts have commented on DAVA shares. Cowen reaffirmed a “hold” rating on shares of Endava in a research report on Friday, September 5th. Morgan Stanley dropped their price target on Endava from $17.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. Guggenheim reduced their price objective on shares of Endava from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Needham & Company LLC dropped their target price on shares of Endava from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Finally, Susquehanna reduced their price target on shares of Endava from $50.00 to $42.00 and set a “positive” rating for the company in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.78.

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.