M&T Bank Corp Trims Stake in Endava plc (NYSE:DAVA)

M&T Bank Corp reduced its holdings in shares of Endava plc (NYSE:DAVA) by 32.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,993 shares of the company’s stock after selling 6,820 shares during the period. M&T Bank Corp’s holdings in Endava were worth $432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in Endava by 93.1% during the fourth quarter. Assetmark Inc. now owns 985 shares of the company’s stock valued at $30,000 after buying an additional 475 shares during the last quarter. Blue Trust Inc. increased its holdings in Endava by 28.5% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock valued at $46,000 after buying an additional 331 shares during the last quarter. GAMMA Investing LLC increased its holdings in Endava by 86.4% during the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $50,000 after buying an additional 745 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Endava in the fourth quarter worth approximately $215,000. Finally, Alliance Wealth Advisors LLC UT bought a new position in shares of Endava in the fourth quarter worth approximately $222,000. 62.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DAVA has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Susquehanna dropped their price target on shares of Endava from $55.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Bank of America initiated coverage on shares of Endava in a research report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price target for the company. Finally, Needham & Company LLC dropped their price target on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.10.

Endava Price Performance

Shares of NYSE:DAVA opened at $20.66 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a fifty day moving average price of $29.57 and a 200 day moving average price of $28.66. Endava plc has a fifty-two week low of $20.54 and a fifty-two week high of $40.65. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 187.80, a P/E/G ratio of 2.26 and a beta of 1.42.

Endava (NYSE:DAVA) last issued its earnings results on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The company had revenue of $250.63 million for the quarter, compared to the consensus estimate of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. As a group, sell-side analysts expect that Endava plc will post 0.57 earnings per share for the current fiscal 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.