Should You Consider Buying Endava (DAVA) Shares?

Polen Capital, an investment management firm, published its “Polen US SMID Company Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Over the first quarter, the Polen U.S. SMID Company Growth Composite Portfolio (the “Portfolio”) returned -23.81% gross and -24.02% net of fees, respectively, underperforming the Russell 2500 Growth Index’s -12.30% return.  Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022. 

In its Q1 2022 investor letter, Polen US SMID Company Growth Fund mentioned Endava plc (NYSE:DAVA) and explained its insights for the company. Founded in 2000, Endava plc (NYSE:DAVA) is a London, United Kingdom-based software company with a $5.9 billion market capitalization. Endava plc (NYSE:DAVA) delivered a -36.42% return since the beginning of the year, while its 12-month returns are down by 2.86%. The stock closed at $106.77 per share on June 02, 2022.

Here is what Polen US SMID Company Growth Fund has to say about Endava plc (NYSE:DAVA) in its Q1 2022 investor letter:

“As an information technology consulting firm, Endava has benefited from the digital transformation trend, and reported favorable results during the first quarter. We believe Endava’s future growth will be driven by the digital transformation space remaining strong in response to companies’ need to reinvent and reimagine themselves. This is work that we view as being non-discretionary. Digital maturity is, in our opinion, a requirement for business longevity. Our research shows Endava is well positioned as the “employer of choice” in Central Europe, and this is reflected in its hiring performance – a key driver of growth.”

Our calculations show that Endava plc (NYSE:DAVA) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Endava plc (NYSE:DAVA) was in 15 hedge fund portfolios at the end of the first quarter of 2022, compared to 14 funds in the previous quarter. Endava plc (NYSE:DAVA) delivered a 6.27% return in the past 3 months.

In May 2022, we also shared another hedge fund’s views on Endava plc (NYSE:DAVA) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.