Prescott Group Capital Management L.L.C. Sells 119,000 Shares of Endava PLC Sponsored ADR (NYSE:DAVA)

Key Points

• Prescott Group Capital Management L.L.C. has reduced its stake in Endava PLC by 28.9%, now owning approximately 292,139 shares valued at around $5.7 million.
• Hedge funds and institutional investors collectively hold 62.23% of Endava, with some firms like Quadrant Capital Group and Precision Wealth Strategies increasing their stakes significantly in recent quarters.
• Analyst ratings for Endava are mixed, with standard ratings ranging from hold to buy, and an average target price of $25.22.

Prescott Group Capital Management L.L.C. reduced its position in shares of Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 28.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 292,139 shares of the company's stock after selling 119,000 shares during the quarter. Endava comprises about 0.8% of Prescott Group Capital Management L.L.C.'s portfolio, making the stock its 22nd biggest position. Prescott Group Capital Management L.L.C. owned approximately 0.49% of Endava worth $5,700,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Endava by 22.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company's stock worth $140,073,000 after purchasing an additional 842,433 shares in the last quarter. Invesco Ltd. increased its holdings in Endava by 2.5% during the 4th quarter. Invesco Ltd. now owns 3,276,183 shares of the company's stock worth $101,234,000 after purchasing an additional 81,004 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Endava by 7.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,549,317 shares of the company's stock worth $78,774,000 after purchasing an additional 171,048 shares in the last quarter. CDAM UK Ltd boosted its stake in shares of Endava by 7.8% in the 4th quarter. CDAM UK Ltd now owns 2,348,674 shares of the company's stock worth $72,574,000 after buying an additional 169,147 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Endava by 80.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company's stock worth $55,807,000 after buying an additional 805,903 shares during the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.

Endava Stock Performance

DAVA traded down $0.52 during mid-day trading on Tuesday, reaching $14.16. 157,677 shares of the company traded hands, compared to its average volume of 669,715. Endava PLC Sponsored ADR has a 52-week low of $13.12 and a 52-week high of $34.94. The company's fifty day moving average price is $14.93 and its 200-day moving average price is $20.69. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $835.57 million, a P/E ratio of 37.25, a P/E/G ratio of 1.38 and a beta of 1.14.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reissued a "neutral" rating and set a $18.00 price objective on shares of Endava in a report on Monday, May 19th. Cowen lowered Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Wall Street Zen raised Endava from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. TD Cowen lowered Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective for the company. in a report on Thursday, May 15th. Finally, Needham & Company LLC increased their price objective on Endava from $18.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Endava has an average rating of "Hold" and an average price target of $25.22.

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.