Yahoo Finance Will Endava (DAVA) Benefit from a Stabilized Demand Environment?
RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds released “The RiverPark/Next Century Growth Fund” Q4 2023 investor letter in partnership with Next Century Growth Investors, LLC. A copy of the same can be downloaded here. The fund returned 4.75% in the fourth quarter compared to a 12.75% return for the Russell 2000 Growth Total Return Index. The recent market rally highlights the significance of macroeconomic indicators and the Fed's stance on interest rates. In addition, please check the fund’s top five holdings to know its best picks in 2023.
The RiverPark/Next Century Growth Fund featured stocks like Endava plc (NYSE:DAVA) in the fourth quarter 2023 investor letter. Headquartered in London, the United Kingdom, Endava plc (NYSE:DAVA) is a technology services provider. On April 4, 2024, Endava plc (NYSE:DAVA) stock closed at $34.68 per share. One-month return of Endava plc (NYSE:DAVA) was -7.52%, and its shares lost 43.18% of their value over the last 52 weeks. Endava plc (NYSE:DAVA) has a market capitalization of $2.003 billion.
The RiverPark/Next Century Growth Fund stated the following regarding Endava plc (NYSE:DAVA) in its fourth quarter 2023 investor letter:
"Endava plc (NYSE:DAVA) is an IT services provider with expertise in such areas as payments, tech/media/telecom, banking & capital markets, mobility, and insurance. DAVA enables their customers to implement their digital transformation initiatives, which are technology projects designed to both improve cost structures and drive revenue growth. DAVA is a company we owned in the past but sold due to the company (and industry) experiencing a slowdown in demand during 2022 and early 2023 after a period of outsized growth following the pandemic. We believe the demand environment has stabilized and could improve in the future, and DAVA should be a beneficiary."
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Endava plc (NYSE:DAVA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Endava plc (NYSE:DAVA) was held by 10 hedge fund portfolios, compared to 11 in the previous quarter, according to our database.
We discussed Endava plc (NYSE:DAVA) in another article and shared the list of biggest software companies in the UK. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
