Endava PLC Sponsored ADR $DAVA Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has significantly reduced its stake in Endava PLC by selling 227,663 shares, lowering its ownership from 154,719 shares to a total of 0.26% of the company, valued at approximately $3,010,000.
• Endava's stock is currently down 4.6%, trading at $9.43, with a market cap of $556.60 million and a twelve-month price range of $9.34 to $34.94.
• Several institutional investors have modified their positions in Endava, with notable changes includes a 112.7% increase in stake by the State of Wyoming and a new investment by Quantbot Technologies valued at $25,000.

Acadian Asset Management LLC decreased its position in shares of Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 59.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 154,719 shares of the company's stock after selling 227,663 shares during the quarter. Acadian Asset Management LLC owned approximately 0.26% of Endava worth $3,010,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Endava by 36.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company's stock valued at $120,939,000 after acquiring an additional 1,665,735 shares during the last quarter. Fourth Sail Capital LP raised its stake in Endava by 52.9% during the first quarter. Fourth Sail Capital LP now owns 1,406,223 shares of the company's stock valued at $27,435,000 after purchasing an additional 486,604 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Endava in the 4th quarter worth $10,106,000. Polar Asset Management Partners Inc. purchased a new position in shares of Endava in the 4th quarter worth $5,494,000. Finally, Invesco Ltd. lifted its holdings in shares of Endava by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,440,658 shares of the company's stock valued at $67,127,000 after acquiring an additional 164,475 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company's stock.

Endava Stock Performance

NYSE:DAVA traded down $0.31 during trading hours on Friday, reaching $9.23. The company had a trading volume of 1,591,690 shares, compared to its average volume of 1,628,007. Endava PLC Sponsored ADR has a 1-year low of $9.15 and a 1-year high of $34.94. The firm has a market cap of $544.85 million, a PE ratio of 20.51 and a beta of 1.13. The business's 50 day moving average price is $12.57 and its 200-day moving average price is $15.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.32 and a quick ratio of 2.32.

Analyst Ratings Changes

DAVA has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Endava in a report on Thursday, July 17th. They issued a "hold" rating and a $14.00 target price for the company. Needham & Company LLC cut their target price on Endava from $20.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, September 5th. Cowen restated a "hold" rating on shares of Endava in a report on Friday, September 5th. Guggenheim decreased their target price on Endava from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, September 5th. Finally, Wall Street Zen downgraded Endava from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.78.

About Endava

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.