Envestnet Asset Management Inc. Trims Stock Position in Endava PLC Sponsored ADR $DAVA

Envestnet Asset Management Inc. trimmed its holdings in shares of Endava PLC Sponsored ADR (NYSE:DAVA) by 8.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,633 shares of the company’s stock after selling 21,774 shares during the period. Envestnet Asset Management Inc. owned about 0.39% of Endava worth $3,518,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of Endava in the first quarter worth $25,000. GAMMA Investing LLC raised its stake in Endava by 81.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,683 shares of the company’s stock valued at $26,000 after purchasing an additional 753 shares during the last quarter. State of Wyoming lifted its holdings in Endava by 112.7% in 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 in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of 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. Finally, Strengthening Families & Communities LLC grew its holdings in shares of Endava by 13.0% during the first quarter. Strengthening Families & Communities LLC now owns 9,997 shares of the company’s stock worth $209,000 after buying an additional 1,153 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Endava Stock Down 5.3%

Shares of DAVA opened at $6.54 on Friday. Endava PLC Sponsored ADR has a fifty-two week low of $6.52 and a fifty-two week high of $34.94. The company’s fifty day moving average is $8.96 and its two-hundred day moving average is $12.78. The firm has a market cap of $367.78 million, a PE ratio of 32.72 and a beta of 1.18. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.31.

Wall Street Analysts Forecast Growth

DAVA has been the topic of several recent analyst reports. Cowen reissued a “hold” rating on shares of Endava in a research note on Friday, September 5th. William Blair lowered Endava from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 11th. Wall Street Zen cut Endava from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research raised Endava from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Morgan Stanley reduced their target price on Endava from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Endava currently has a consensus rating of “Hold” and an average price target of $18.00.

Endava Company 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.