Kayne Anderson Rudnick Investment Management LLC Raises Stock Holdings in Endava PLC Sponsored ADR $DAVA

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Endava PLC by 36.7%, now owning approximately 10.50% of the company, amounting to $120.9 million.
• Institutional investors hold a significant portion of Endava, with 62.23% of the stock owned by such parties, reflecting strong institutional interest.
• Analysts have mixed ratings for Endava, with a consensus rating of "Hold" and an average price target of $25.11.

Kayne Anderson Rudnick Investment Management LLC lifted its position in Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 36.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,198,846 shares of the company's stock after acquiring an additional 1,665,735 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 10.50% of Endava worth $120,939,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Endava in the 1st quarter worth approximately $25,000. Smartleaf Asset Management LLC raised its holdings in Endava by 23.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock worth $72,000 after purchasing an additional 689 shares during the period. State of Tennessee Department of Treasury bought a new position in Endava in the 4th quarter worth $100,000. HighTower Advisors LLC bought a new position in Endava in the 1st quarter worth $203,000. Finally, Strengthening Families & Communities LLC raised its holdings in Endava by 13.0% during the first quarter. Strengthening Families & Communities LLC now owns 9,997 shares of the company's stock valued at $209,000 after acquiring an additional 1,153 shares during the period. Institutional investors own 62.23% of the company's stock.

Endava Trading Up 1.1%

NYSE:DAVA traded up $0.16 during midday trading on Friday, hitting $14.83. The stock had a trading volume of 432,230 shares, compared to its average volume of 686,584. Endava PLC Sponsored ADR has a one year low of $11.63 and a one year high of $34.94. The company has a market capitalization of $875.13 million, a price-to-earnings ratio of 39.03 and a beta of 1.12. The stock has a 50-day moving average of $13.82 and a 200 day moving average of $17.80. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.21.

Analyst Upgrades and Downgrades

DAVA has been the topic of several research reports. Wall Street Zen cut Endava from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. TD Cowen cut Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective on the stock. in a research note on Thursday, May 15th. JPMorgan Chase & Co. reduced their price objective on Endava from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Cowen cut Endava from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Needham & Company LLC boosted their price objective on Endava from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. 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, Endava has a consensus rating of "Hold" and a consensus price target of $24.56.

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.