Neuberger Berman Group LLC Buys 48,701 Shares of Endava PLC Sponsored ADR $DAVA

Key Points

• Neuberger Berman Group LLC increased its stake in Endava PLC by 136.9% during the first quarter, owning 84,273 shares worth approximately $1.64 million.
• Other institutional investors also boosted their investments, with Kayne Anderson Rudnick increasing its stake by 22.8%, bringing its total to 4.53 million shares.
• Endava's stock is currently trading at $12.60, down 6.0%, with a market cap of $743.78 million and mixed ratings from analysts, including a consensus price target of $25.22.

Neuberger Berman Group LLC grew its stake in shares of Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 136.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 84,273 shares of the company's stock after acquiring an additional 48,701 shares during the period. Neuberger Berman Group LLC owned about 0.14% of Endava worth $1,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Tennessee Department of Treasury acquired a new stake in shares of Endava during the 4th quarter valued at $100,000. Commerce Bank acquired a new stake in Endava during the 4th quarter valued at $292,000. Strengthening Families & Communities LLC raised its stake in Endava by 13.0% during the 1st quarter. Strengthening Families & Communities LLC now owns 9,997 shares of the company's stock valued at $209,000 after purchasing an additional 1,153 shares during the period. HighTower Advisors LLC acquired a new stake in Endava during the 1st quarter valued at $203,000. Finally, Investors Research Corp acquired a new stake in Endava during the 1st quarter valued at $217,000. Institutional investors and hedge funds own 62.23% of the company's stock.

Endava Stock Performance

DAVA stock traded up $0.34 during mid-day trading on Thursday, reaching $13.05. 253,476 shares of the stock traded hands, compared to its average volume of 684,264. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. Endava PLC Sponsored ADR has a 52 week low of $11.63 and a 52 week high of $34.94. The business has a 50-day moving average of $13.99 and a two-hundred day moving average of $18.59. The firm has a market capitalization of $770.34 million, a PE ratio of 34.43 and a beta of 1.12.

Analyst Ratings Changes

DAVA has been the topic of several recent analyst reports. TD Cowen downgraded shares of Endava from a "buy" rating to a "hold" rating and set a $17.00 target price on the stock. in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Endava in a research report on Thursday, July 17th. They set a "hold" rating and a $14.00 target price on the stock. Guggenheim reissued a "buy" rating and set a $25.00 target price on shares of Endava in a research report on Tuesday, June 10th. JPMorgan Chase & Co. lowered their target price on shares of Endava from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Susquehanna lowered their target price on shares of Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a research report on Tuesday, May 20th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Endava has a consensus rating of "Hold" and a consensus price target of $25.11.

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.