Endava PLC Sponsored ADR (NYSE:DAVA) is Fourth Sail Capital LP's 4th Largest Position

Key Points

• Fourth Sail Capital LP increased its stake in Endava PLC by 52.9%, owning a total of 1,406,223 shares and making Endava its 4th largest holding.
• A significant number of institutional investors have also raised their stakes in Endava, including Ruffer LLP, which increased its holdings by 414.7%.
• Endava's current stock price is approximately $11.74, with a market capitalization of $692.84 million and a consensus rating of "Hold" from analysts.

Fourth Sail Capital LP lifted its position in Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 52.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,406,223 shares of the company's stock after acquiring an additional 486,604 shares during the period. Endava accounts for approximately 6.4% of Fourth Sail Capital LP's investment portfolio, making the stock its 4th biggest holding. Fourth Sail Capital LP owned about 2.38% of Endava worth $27,435,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Portside Wealth Group LLC increased its stake in shares of Endava by 5.7% in the 1st quarter. Portside Wealth Group LLC now owns 13,145 shares of the company's stock worth $256,000 after acquiring an additional 711 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Endava by 114.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock worth $46,000 after buying an additional 786 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its stake in Endava by 10.1% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 15,680 shares of the company's stock worth $485,000 after purchasing an additional 1,440 shares during the period. State of Tennessee Department of Treasury acquired a new position in shares of Endava in the fourth quarter valued at approximately $100,000. Finally, Precision Wealth Strategies LLC increased its position in Endava by 41.0% during the 1st quarter. Precision Wealth Strategies LLC now owns 12,622 shares of the company's stock worth $246,000 after purchasing an additional 3,668 shares during the period. 62.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Susquehanna lowered their target price on Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a report on Tuesday, May 20th. Wall Street Zen upgraded Endava from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Cowen cut shares of Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Guggenheim reaffirmed a "buy" rating and set a $25.00 target price on shares of Endava in a report on Tuesday, June 10th. Finally, Needham & Company LLC upped 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. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $25.22.

Endava Price Performance

Shares of Endava stock traded up $0.29 during midday trading on Friday, hitting $12.47. 745,580 shares of the company traded hands, compared to its average volume of 634,378. The firm's fifty day moving average price is $14.51 and its 200-day moving average price is $19.66. The stock has a market cap of $736.10 million, a price-to-earnings ratio of 32.82 and a beta of 1.12. Endava PLC Sponsored ADR has a 12 month low of $11.63 and a 12 month high of $34.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.18 and a current ratio of 2.18.

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.