Davis has scored in double figures in 18-consecutive games.
South Alabama (2-5) led 31-22 after Ken Williams made a jumper with 4:52 left in the first half, but the Waves scored 14 of the next 16, including a dunk by Jett Raines 27 seconds into the second half, to take a 36-33 lead.
After a jumper by Dionte Ferguson and two free throws by John Brown made it 37-33 about a minute later, Atif Russell hit a 3 which sparked a 17-0 Pepperdine run. Davis scored eight points during that stretch and Pepperdine led 53-37 with 12:35 to play.
A 13-2 run by Jaguars got them back in striking distance and a later 6-0 spurt made it 69-64 with 2:57 to play, but they would get no closer.