Ruffer LLP Boosts Position in Endava PLC Sponsored ADR (NYSE:DAVA)

Key Points

• Ruffer LLP significantly increased its stake in Endava PLC by 414.7%, acquiring an additional 105,000 shares in the first quarter, bringing its total to 130,317 shares.
• Major institutional investors like Kayne Anderson Rudnick and JPMorgan Chase also expanded their positions in Endava, indicating growing institutional interest in the company.
• Endava currently has an average rating of "Hold" among analysts, with target prices ranging from $14.00 to $42.00, reflecting mixed sentiments about its future performance.

Ruffer LLP lifted its position in shares of Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 414.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,317 shares of the company's stock after purchasing an additional 105,000 shares during the period. Ruffer LLP owned about 0.22% of Endava worth $2,542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DAVA. M&T Bank Corp grew its stake in Endava by 182.3% in the first quarter. M&T Bank Corp now owns 39,499 shares of the company's stock valued at $770,000 after acquiring an additional 25,506 shares during the period. Two Sigma Investments LP lifted its stake in shares of Endava by 165.0% in the fourth quarter. Two Sigma Investments LP now owns 59,089 shares of the company's stock valued at $1,826,000 after buying an additional 36,789 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Endava by 1,029.1% during the first quarter. GAMMA Investing LLC now owns 18,144 shares of the company's stock valued at $354,000 after buying an additional 16,537 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Endava by 85.9% during the first quarter. Janney Montgomery Scott LLC now owns 47,125 shares of the company's stock worth $919,000 after acquiring an additional 21,773 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Endava by 187.5% in the 4th quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company's stock worth $26,540,000 after acquiring an additional 560,190 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DAVA shares. Needham & Company LLC raised their price target on shares of Endava from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Guggenheim restated a "buy" rating and issued a $25.00 target price on shares of Endava in a research note on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Endava in a research report on Thursday, July 17th. They set a "hold" rating and a $14.00 price target for the company. TD Cowen downgraded Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective for the company. in a research note on Thursday, May 15th. Finally, Susquehanna decreased their price objective on shares of Endava from $50.00 to $42.00 and set a "positive" rating for the company in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Endava presently has an average rating of "Hold" and an average price target of $25.22.

Endava Stock Performance

Shares of DAVA stock traded up $0.05 during trading hours on Wednesday, reaching $11.78. The company had a trading volume of 548,443 shares, compared to its average volume of 661,973. The firm has a market cap of $695.08 million, a PE ratio of 30.99 and a beta of 1.12. The business has a fifty day moving average price of $14.69 and a 200-day moving average price of $19.99. Endava PLC Sponsored ADR has a one year low of $11.63 and a one year 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.