7 Best UK Growth Stocks To Invest In

4. Endava (NYSE:DAVA)  

Number of Hedge Fund Investors: 16

Endava (NYSE:DAVA) is a technology services company specializing in IT services, including custom application development. The company also provides IT consulting, software development, and automation services to finance, healthcare, and telecommunications clients.

In June, Endava (NYSE:DAVA) announced the expansion of its partnership with Google Cloud in the Asia Pacific (APAC) region. The partnership aims to deliver and implement Google Cloud’s services, including Generative AI, Cloud Migration, and Application Modernisation, to offer tailored products and services across the Google Cloud product suite by providing customers access to highly skilled software and data engineers and excellent customer service. This expansion is a significant development in Endava’s continued growth in Australia, New Zealand, and Southeast Asia and demonstrates the company’s commitment to delivering technical excellence in the region.

Endava (NYSE:DAVA) focuses on custom application development, which is a high-growth area in the IT services industry. The company’s valuation is attractive, with a forward price-to-earnings ratio of 15x. Analysts expect the company’s stock price to approach $80 in 2-3 years, which represents a significant upside potential for investors looking for a high-growth investment opportunity.

In the second quarter, the company’s stock was held by 18 hedge funds with stakes worth $89.13 million. Paradice Investment Management is the largest shareholder in the company, with a stake worth $18.69 million as of June 30.