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Here’s What Makes Endava (DAVA) a Great Investment Pick

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·2 min read
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Baron Funds, an asset management firm, published its “Baron Fifth Avenue Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Fifth Avenue Growth Fund (the "Fund") declined 21.0% (Institutional Shares) during the first quarter, which compared to declines of 9.0% for the Russell 1000 Growth Index ("R1KG") and 4.6% for the S&P 500 Index ("SPX"), the Fund's benchmarks. 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, Baron Fifth Avenue 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 public-listed software development company with a $5.4 billion market capitalization. Endava plc (NYSE:DAVA) delivered a -41.94% return since the beginning of the year, while its 12-month returns are up by 8.33%. The stock closed at $97.50per share on May 16, 2022.

Here is what Baron Fifth Avenue Growth Fund has to say about Endava plc (NYSE:DAVA) in its Q1 2022 investor letter:

"During the quarter we bought shares of Endava plc, a provider of consulting and outsourced software development for business customers. The company operates at the forefront of the digital revolution by helping clients find new ways to interact with their customers, enabling them to become more engaging, responsive, and efficient. Endava contributed 25bps to our quarterly results thanks to the timing of our purchases despite the decline in the share price over the whole quarter as it gave back some of the big gains from last year due to increased investor caution regarding Endava's work force in Central and Eastern Europe (even though it has no presence in Ukraine, Russia, or Belarus). Endava continues seeing strong business momentum with 50% revenue growth and 59% EPS growth in the recent quarter, and we believe it will continue gaining share in the large global market for IT services for years to come."


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 14 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 16 funds in the previous quarter. Endava plc (NYSE:DAVA) delivered a -23.31% return in the past 3 months.

In January 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.