Endava PLC Sponsored ADR $DAVA Shares Purchased by Circumference Group LLC

Key Points

• Circumference Group LLC increased its stake in Endava PLC by 48.8%, resulting in ownership of 251,500 shares valued at approximately $4.9 million.
• Multiple hedge funds have also significantly raised their positions in Endava, with Barclays PLC increasing its stake by 22,933.3%, now owning 17,275 shares.
• Recent analyst reports have downgraded Endava's stock ratings, with JPMorgan cutting its price target from $18.00 to $17.00, while Guggenheim set a new target of $20.00, indicating a cautious outlook on the stock.

Circumference Group LLC raised its stake in Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 48.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 251,500 shares of the company's stock after purchasing an additional 82,500 shares during the quarter. Endava comprises approximately 6.0% of Circumference Group LLC's holdings, making the stock its 6th biggest holding. Circumference Group LLC owned approximately 0.43% of Endava worth $4,907,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DAVA. Barclays PLC boosted its holdings in shares of Endava by 22,933.3% in the 4th quarter. Barclays PLC now owns 17,275 shares of the company's stock valued at $533,000 after purchasing an additional 17,200 shares during the last quarter. Findell Capital Management LLC raised its stake in shares of Endava by 12.8% in the 4th quarter. Findell Capital Management LLC now owns 440,000 shares of the company's stock valued at $13,596,000 after acquiring an additional 50,000 shares during the period. Ensign Peak Advisors Inc raised its stake in shares of Endava by 35.4% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,137,375 shares of the company's stock valued at $35,145,000 after acquiring an additional 297,304 shares during the period. Millennium Management LLC raised its stake in shares of Endava by 44.5% in the 4th quarter. Millennium Management LLC now owns 24,550 shares of the company's stock valued at $759,000 after acquiring an additional 7,565 shares during the period. Finally, Malaga Cove Capital LLC raised its stake in shares of Endava by 19.6% in the 4th quarter. Malaga Cove Capital LLC now owns 43,792 shares of the company's stock valued at $1,353,000 after acquiring an additional 7,175 shares during the period. Institutional investors and hedge funds own 62.23% of the company's stock.

Endava Stock Down 1.0%

Shares of DAVA traded down $0.11 during midday trading on Tuesday, hitting $9.93. The company had a trading volume of 608,150 shares, compared to its average volume of 767,409. The company's 50 day moving average price is $13.53 and its 200 day moving average price is $16.66. The stock has a market cap of $585.87 million, a price-to-earnings ratio of 22.02 and a beta of 1.13. Endava PLC Sponsored ADR has a 52 week low of $9.73 and a 52 week high of $34.94. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

DAVA has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Endava from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Cowen reissued a "hold" rating on shares of Endava in a research note on Friday. Susquehanna cut their target price on shares of Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a research note on Tuesday, May 20th. Guggenheim cut their target price on shares of Endava from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Wall Street Zen downgraded shares of Endava from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.78.

Endava Company 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.