Townsquare Capital LLC Grows Stock Holdings in Endava PLC Sponsored ADR (NYSE:DAVA)

Key Points

• Townsquare Capital LLC significantly increased its position in Endava PLC Sponsored ADR by 82.3%, owning 144,659 shares worth approximately $2.82 million as of the latest filing.
• Multiple large investors have also adjusted their stakes in Endava, with firms like Invesco and Barclays PLC making notable increases in their holdings in the fourth quarter.
• Despite a recent downgrade from analysts at TD Cowen and price target reductions by other brokerages, Endava has a consensus rating of "Hold" with a target price of $25.22.

Townsquare Capital LLC raised its position in shares of Endava PLC Sponsored ADR (NYSE:DAVA - Free Report) by 82.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,659 shares of the company's stock after buying an additional 65,321 shares during the quarter. Townsquare Capital LLC owned about 0.25% of Endava worth $2,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DAVA. State of Tennessee Department of Treasury bought a new stake in Endava during the 4th quarter valued at about $100,000. Commerce Bank bought a new stake in Endava during the 4th quarter valued at about $292,000. Investors Research Corp bought a new stake in Endava during the 1st quarter valued at about $217,000. Jump Financial LLC bought a new stake in Endava during the 4th quarter valued at about $374,000. Finally, Mirabella Financial Services LLP bought a new stake in Endava during the 4th quarter valued at about $387,000. Hedge funds and other institutional investors own 62.23% of the company's stock.

Wall Street Analyst Weigh In

DAVA has been the subject of a number of analyst reports. Cowen lowered shares of Endava from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Wall Street Zen lowered Endava from a "buy" rating to a "hold" rating in a research report on Saturday. TD Cowen lowered Endava from a "buy" rating to a "hold" rating and set a $17.00 target price for the company. in a research report on Thursday, May 15th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.00 target price on shares of Endava in a research report on Monday, May 19th. Finally, Needham & Company LLC boosted their target price on Endava from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Endava currently has a consensus rating of "Hold" and a consensus price target of $25.22.

Endava Trading Down 6.0%

NYSE:DAVA traded down $0.81 during mid-day trading on Friday, hitting $12.60. 1,119,866 shares of the stock traded hands, compared to its average volume of 658,426. The stock has a market capitalization of $743.78 million, a price-to-earnings ratio of 33.16 and a beta of 1.12. Endava PLC Sponsored ADR has a 52 week low of $11.63 and a 52 week high of $34.94. The firm's 50 day moving average is $14.23 and its two-hundred day moving average is $19.00. 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 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.