Endava PLC Sponsored ADR (NYSE:DAVA) Stake Cut by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has reduced its holdings in Endava PLC Sponsored ADR by 46.5% during the first quarter, now owning 24,274 shares worth $474,000.
• Other institutional investors have shown varied activity; for instance, Norden Group LLC increased its position by 56.4% while Envestnet Asset Management Inc. raised its stake by 100.7%.
• Endava's share price opened at $12.26, down by 1.9%, while the stock has a 12-month low of $11.63 and a high of $34.94.

Natixis Advisors LLC lessened its holdings in shares of Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 46.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,274 shares of the company's stock after selling 21,066 shares during the quarter. Natixis Advisors LLC's holdings in Endava were worth $474,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Endava by 2.5% in the 4th quarter. Invesco Ltd. now owns 3,276,183 shares of the company's stock worth $101,234,000 after acquiring an additional 81,004 shares during the period. Legal & General Group Plc boosted its holdings in Endava by 3.7% in the 4th quarter. Legal & General Group Plc now owns 139,576 shares of the company's stock worth $4,321,000 after acquiring an additional 5,042 shares during the period. Raymond James Financial Inc. purchased a new position in Endava in the 4th quarter worth approximately $14,698,000. Barclays PLC boosted its holdings in Endava by 22,933.3% in the 4th quarter. Barclays PLC now owns 17,275 shares of the company's stock worth $533,000 after acquiring an additional 17,200 shares during the period. Finally, Jump Financial LLC purchased a new position in Endava in the 4th quarter worth approximately $374,000. Institutional investors and hedge funds own 62.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DAVA. Needham & Company LLC upped their price target on Endava from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. TD Cowen cut Endava from a "buy" rating to a "hold" rating and set a $17.00 target price for the company. in a research note on Thursday, May 15th. Cowen cut Endava from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Wall Street Zen cut Endava from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Endava in a research note on Thursday, July 17th. They set a "hold" rating and a $14.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.22.

Endava Stock Performance

DAVA traded down $0.81 during trading hours on Friday, hitting $12.60. 1,119,866 shares of the stock were exchanged, compared to its average volume of 658,426. The stock has a 50-day simple moving average of $14.23 and a 200-day simple moving average of $18.91. Endava PLC Sponsored ADR has a 12 month low of $11.63 and a 12 month high of $34.94. The stock has a market cap of $743.78 million, a price-to-earnings ratio of 33.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 2.18.

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.