Alyeska Investment Group L.P. Sells 1,709,335 Shares of Endava PLC Sponsored ADR $DAVA

Key Points

• Alyeska Investment Group L.P. significantly reduced its stake in Endava PLC by 94.6%, selling over 1.7 million shares, and now holds approximately 0.16% of the company.
• Several institutional investors, including M&T Bank Corp and GAMMA Investing LLC, boosted their stakes in Endava, reflecting a mixed sentiment among hedge funds, with 62.23% of the stock owned by such investors.
• A range of analysts have lowered their target prices for Endava, with several assigning Hold ratings, leading to a consensus price target of $20.78 for the stock.

Alyeska Investment Group L.P. decreased its position in Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 94.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,709 shares of the company's stock after selling 1,709,335 shares during the quarter. Alyeska Investment Group L.P. owned about 0.16% of Endava worth $1,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of DAVA. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of 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 worth $120,939,000 after purchasing an additional 1,665,735 shares during the last quarter. Fourth Sail Capital LP grew its holdings in shares of Endava by 52.9% in the 1st quarter. Fourth Sail Capital LP now owns 1,406,223 shares of the company's stock worth $27,435,000 after acquiring an additional 486,604 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Endava during the fourth quarter worth $10,106,000. Ensign Peak Advisors Inc lifted its holdings in shares of Endava by 35.4% during the fourth quarter. Ensign Peak Advisors Inc now owns 1,137,375 shares of the company's stock valued at $35,145,000 after purchasing an additional 297,304 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Endava in the 4th quarter valued at $5,494,000. 62.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on DAVA shares. Cowen reaffirmed a "hold" rating on shares of Endava in a research report on Friday, September 5th. Morgan Stanley decreased their price objective on Endava from $17.00 to $11.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. JPMorgan Chase & Co. lowered their target price on Endava from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Guggenheim dropped their target price on Endava from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Friday, September 5th. Finally, Needham & Company LLC decreased their price target on shares of Endava from $20.00 to $12.00 and set a "buy" rating for the company in a report on Friday, September 5th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Endava presently has an average rating of "Hold" and an average target price of $20.78.

Endava Stock Up 6.4%

DAVA traded up $0.60 during midday trading on Thursday, hitting $10.00. 2,547,311 shares of the company's stock traded hands, compared to its average volume of 1,473,553. The company has a market cap of $590.30 million, a PE ratio of 22.22 and a beta of 1.13. The stock's fifty day simple moving average is $13.19 and its 200-day simple moving average is $16.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.32 and a quick ratio of 2.32. Endava PLC Sponsored ADR has a one year low of $9.34 and a one year high of $34.94.

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.