Endava PLC Sponsored ADR (NYSE:DAVA) Stock Position Lifted by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in Endava PLC Sponsored ADR by 25.7%, acquiring an additional 74,670 shares, bringing its total to 365,516 shares valued at approximately $7.13 million.
• Several hedge funds have also increased their holdings in Endava, with JPMorgan Chase & Co. boosting its position by 187.5% and now holding 858,894 shares valued at $26.54 million.
• Analysts have mixed opinions on Endava's stock, with ratings ranging from "buy" to "hold" and a consensus target price set at **$25.22**, following a recent downgrade from Cowen and price target reductions from several firms.

Royce & Associates LP increased its stake in shares of Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 25.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 365,516 shares of the company's stock after acquiring an additional 74,670 shares during the period. Royce & Associates LP owned approximately 0.62% of Endava worth $7,131,000 at the end of the most recent reporting period.

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

Endava Stock Performance

DAVA traded up $0.04 during trading on Wednesday, reaching $14.05. 102,614 shares of the company were exchanged, compared to its average volume of 667,915. The stock has a market cap of $829.08 million, a P/E ratio of 36.96, a PEG ratio of 1.35 and a beta of 1.14. The firm has a 50 day moving average of $14.91 and a 200 day moving average of $20.64. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.21. Endava PLC Sponsored ADR has a 52 week low of $13.12 and a 52 week high of $34.94.

Analyst Ratings Changes

DAVA has been the subject of a number of research analyst reports. Guggenheim reiterated a "buy" rating and issued a $25.00 price target on shares of Endava in a report on Tuesday, June 10th. Cowen downgraded Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.00 price target on shares of Endava in a report on Monday, May 19th. Wall Street Zen upgraded Endava from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Endava in a report on Thursday, July 17th. They issued a "hold" rating and a $14.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, 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.