Next Century Growth Investors LLC Acquires New Position in Endava PLC Sponsored ADR $DAVA

Key Points

• Next Century Growth Investors LLC has made a new investment in Endava PLC, acquiring 98,852 shares valued at approximately $1.93 million during the first quarter.
• Endava's recent analysts' reports show mixed ratings, with Guggenheim maintaining a "buy" rating at a $25 price target, while others like TD Cowen have downgraded the stock to "hold" with a $17 target.
• As of now, approximately 62.23% of Endava's stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.

Next Century Growth Investors LLC bought a new stake in Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 98,852 shares of the company's stock, valued at approximately $1,929,000. Next Century Growth Investors LLC owned about 0.17% of Endava as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in Endava in the 1st quarter valued at about $25,000. Smartleaf Asset Management LLC lifted its stake in Endava by 23.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock valued at $72,000 after purchasing an additional 689 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in Endava during the fourth quarter worth approximately $100,000. HighTower Advisors LLC acquired a new stake in Endava during the first quarter worth approximately $203,000. Finally, Strengthening Families & Communities LLC lifted its position in Endava by 13.0% during the first quarter. Strengthening Families & Communities LLC now owns 9,997 shares of the company's stock worth $209,000 after acquiring an additional 1,153 shares during the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DAVA has been the subject of several research reports. Susquehanna cut their price objective on shares of Endava from $50.00 to $42.00 and set a "positive" rating for the company in a research report on Tuesday, May 20th. JPMorgan Chase & Co. cut their price objective on shares of Endava from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. Guggenheim cut their price objective on shares of Endava from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, August 28th. Wall Street Zen downgraded shares of Endava from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Needham & Company LLC raised their price objective on shares of Endava from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $24.56.

Endava Price Performance

NYSE:DAVA traded down $0.51 during mid-day trading on Tuesday, reaching $14.17. The stock had a trading volume of 422,019 shares, compared to its average volume of 687,739. The stock has a 50-day simple moving average of $13.85 and a two-hundred day simple moving average of $17.31. The stock has a market capitalization of $836.46 million, a PE ratio of 37.29 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 2.18. Endava PLC Sponsored ADR has a 12 month low of $11.63 and a 12 month high of $34.94.

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.