Endava PLC Sponsored ADR $DAVA Shares Acquired by Paradice Investment Management LLC

Key Points

• Paradice Investment Management LLC raised its stake in Endava by 61.9% in Q4, acquiring an additional 1,157,921 shares to hold 3,029,847 shares (a reported 5.39% position worth about $19.15 million), making DAVA its 15th-largest holding.
• Other institutions including Prescott, UBS, Invesco, Barclays and Verition also added or initiated stakes, and hedge funds/institutional investors collectively own about 62.23% of Endava.
• Analyst coverage is mixed but tepid: the consensus rating is “Hold” with an average price target of $14.14, amid several recent price-target cuts (e.g., TD Cowen to $6, JPMorgan to $9) and a spread of 4 Buy / 5 Hold / 1 Sell ratings.

Paradice Investment Management LLC lifted its holdings in Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 61.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,029,847 shares of the company's stock after buying an additional 1,157,921 shares during the period. Endava makes up 3.7% of Paradice Investment Management LLC's holdings, making the stock its 15th biggest position. Paradice Investment Management LLC owned 5.39% of Endava worth $19,149,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Prescott Group Capital Management L.L.C. raised its holdings in Endava by 100.3% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 1,216,354 shares of the company's stock valued at $11,069,000 after acquiring an additional 609,215 shares during the last quarter. UBS Group AG grew its position in shares of Endava by 128.4% in the third quarter. UBS Group AG now owns 756,082 shares of the company's stock valued at $6,880,000 after purchasing an additional 425,106 shares in the last quarter. Barclays PLC purchased a new stake in shares of Endava in the third quarter valued at approximately $2,356,000. Invesco Ltd. increased its holdings in shares of Endava by 6.4% in the second quarter. Invesco Ltd. now owns 3,661,123 shares of the company's stock valued at $56,088,000 after purchasing an additional 220,465 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Endava in the third quarter valued at approximately $1,401,000. Hedge funds and other institutional investors own 62.23% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on DAVA. TD Cowen lowered their price objective on Endava from $6.50 to $6.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. JPMorgan Chase & Co. cut their target price on Endava from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, February 20th. Wall Street Zen upgraded Endava from a "sell" rating to a "hold" rating in a report on Sunday, February 8th. Weiss Ratings reissued a "sell (d)" rating on shares of Endava in a research report on Tuesday, April 7th. Finally, Guggenheim dropped their price objective on shares of Endava from $15.00 to $13.00 and set a "buy" rating for the company in a report on Friday, February 13th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $14.14.

Endava Trading Down 8.1%

DAVA opened at $4.28 on Friday. Endava PLC Sponsored ADR has a one year low of $4.11 and a one year high of $21.81. The stock has a market capitalization of $240.75 million, a PE ratio of -38.94 and a beta of 1.26. The business's 50 day moving average price is $4.73 and its 200 day moving average price is $6.30. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.39 and a current ratio of 2.39.

Endava Company Profile

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.

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