Kayne Anderson Rudnick Investment Management LLC Cuts Stock Holdings in Endava plc (NYSE:DAVA)

Kayne Anderson Rudnick Investment Management LLC reduced its stake in Endava plc (NYSE:DAVA) by 6.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,037,956 shares of the company’s stock after selling 262,060 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 6.99% of Endava worth $118,070,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DAVA. Fourth Sail Capital LP purchased a new stake in shares of Endava in the first quarter valued at about $27,622,000. Paradice Investment Management LLC purchased a new stake in Endava in the 2nd quarter valued at about $18,695,000. Capital World Investors lifted its position in shares of Endava by 39.3% during the 4th quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after buying an additional 278,300 shares in the last quarter. Norden Group LLC boosted its stake in shares of Endava by 2,587.6% in the 1st quarter. Norden Group LLC now owns 219,254 shares of the company’s stock worth $8,340,000 after buying an additional 211,096 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Endava by 356.5% in the fourth quarter. Wells Fargo & Company MN now owns 246,611 shares of the company’s stock valued at $19,199,000 after acquiring an additional 192,593 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DAVA shares. Needham & Company LLC dropped their price target on Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a report on Friday. Redburn Atlantic assumed coverage on shares of Endava in a report on Friday, May 24th. They issued a “neutral” rating and a $33.10 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Susquehanna dropped their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday. Finally, Guggenheim reduced their target price on shares of Endava from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.31.

Endava Price Performance

Shares of DAVA stock opened at $26.66 on Friday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 29.62 and a beta of 1.22. The company’s fifty day simple moving average is $30.58 and its two-hundred day simple moving average is $30.99. Endava plc has a 1 year low of $24.51 and a 1 year high of $81.06.

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.