Alberta Investment Management Corp Decreases Holdings in Endava PLC Sponsored ADR (NYSE:DAVA)

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 lessened its position in Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 31.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 950,000 shares of the company's stock after selling 434,902 shares during the period. Alberta Investment Management Corp owned 1.61% of Endava worth $18,534,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Portside Wealth Group LLC increased its stake in shares of Endava by 5.7% during the first quarter. Portside Wealth Group LLC now owns 13,145 shares of the company's stock valued at $256,000 after purchasing an additional 711 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Endava by 114.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock valued at $46,000 after purchasing an additional 786 shares in the last quarter. Sompo Asset Management Co. Ltd. increased its stake in shares of Endava by 10.1% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 15,680 shares of the company's stock valued at $485,000 after purchasing an additional 1,440 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in shares of Endava during the fourth quarter valued at approximately $100,000. Finally, Precision Wealth Strategies LLC increased its stake in shares of Endava by 41.0% during the first quarter. Precision Wealth Strategies LLC now owns 12,622 shares of the company's stock valued at $246,000 after purchasing an additional 3,668 shares in the last quarter. Institutional investors own 62.23% of the company's stock.

Endava Stock Performance

Shares of NYSE:DAVA traded down $0.86 during midday trading on Friday, reaching $11.94. 1,176,871 shares of the company's stock traded hands, compared to its average volume of 590,383. The company has a market cap of $704.82 million, a price-to-earnings ratio of 31.42, a P/E/G ratio of 1.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.18 and a current ratio of 2.18. Endava PLC Sponsored ADR has a one year low of $11.80 and a one year high of $34.94. The stock has a 50 day moving average of $14.80 and a 200 day moving average of $20.26.

Analysts Set New Price Targets

A number of brokerages have weighed in on DAVA. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $18.00 target price on shares of Endava in a research note on Monday, May 19th. Needham & Company LLC raised their target price on shares of Endava from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Cowen downgraded shares of Endava from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. TD Cowen downgraded shares of Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective on the stock. in a research report on Thursday, May 15th. Finally, Susquehanna cut their price objective on shares of Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a research report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Endava has a consensus rating of "Hold" and an average price target 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.