Endava PLC Sponsored ADR (NYSE:DAVA) Shares Sold by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its stake in Endava PLC by 31.4%, owning 950,000 shares worth approximately $18.5 million after selling 434,902 shares in the first quarter.
• Wall Street analysts have a consensus rating of "Hold" for Endava shares, with an average price target of $25.22, although some analysts have set higher or lower targets based on recent evaluations.
• Shares of Endava opened at $12.78 and are down 5.7% from previous trading, with a market cap of $754.42 million and a 52-week high of $34.94.

Alberta Investment Management Corp reduced its stake in shares of Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 31.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 950,000 shares of the company's stock after selling 434,902 shares during the quarter. Alberta Investment Management Corp owned about 1.61% of Endava worth $18,534,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norden Group LLC grew its stake in shares of Endava by 56.4% during the first quarter. Norden Group LLC now owns 24,714 shares of the company's stock valued at $482,000 after buying an additional 8,916 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Endava by 25.7% in the first quarter. Royce & Associates LP now owns 365,516 shares of the company's stock valued at $7,131,000 after purchasing an additional 74,670 shares during the period. M&T Bank Corp boosted its holdings in shares of Endava by 182.3% in the first quarter. M&T Bank Corp now owns 39,499 shares of the company's stock valued at $770,000 after purchasing an additional 25,506 shares during the period. Pekin Hardy Strauss Inc. boosted its holdings in shares of Endava by 40.1% in the first quarter. Pekin Hardy Strauss Inc. now owns 20,655 shares of the company's stock valued at $403,000 after purchasing an additional 5,915 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Endava by 100.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 251,407 shares of the company's stock valued at $4,905,000 after acquiring an additional 126,158 shares during the period. 62.23% of the stock is owned by institutional investors.

Endava Stock Down 2.4%

Shares of Endava stock traded down $0.29 during trading on Tuesday, hitting $11.89. 323,367 shares of the stock were exchanged, compared to its average volume of 671,426. The firm's 50-day moving average price is $14.76 and its 200 day moving average price is $20.04. Endava PLC Sponsored ADR has a 12-month low of $11.80 and a 12-month high of $34.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 2.18. The stock has a market cap of $701.87 million, a price-to-earnings ratio of 31.29 and a beta of 1.12.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DAVA shares. Guggenheim reaffirmed a "buy" rating and set a $25.00 price target on shares of Endava in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Endava in a research note on Thursday, July 17th. They issued a "hold" rating and a $14.00 price target on the stock. Susquehanna decreased their price target on shares of Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a research note on Tuesday, May 20th. Needham & Company LLC raised their target price on shares of Endava from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Wall Street Zen raised shares of Endava from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Endava presently has a consensus rating of "Hold" and a consensus target price of $25.22.

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.