Should You Hold Endava plc (DAVA) for the Long-Term?

Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio returned 11.81% gross and 11.49% net of fees in the first quarter compared to a 6.54% return for the Russell 2500 Growth Index. The company believes that focusing on well-positioned high-quality growth companies will help generate superior long-term returns over the next 5 years. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Polen U.S. SMID Company Growth Strategy highlighted stocks like Endava plc (NYSE:DAVA) in the first quarter 2023 investor letter. Headquartered in London, the United Kingdom, Endava plc (NYSE:DAVA) is a technology services provider. On May 12, 2023, Endava plc (NYSE:DAVA) stock closed at $49.52 per share. One-month return of Endava plc (NYSE:DAVA) was -18.59%, and its shares lost 49.21% of their value over the last 52 weeks. Endava plc (NYSE:DAVA) has a market capitalization of $2.871 billion.

Polen U.S. SMID Company Growth Strategy made the following comment about Endava plc (NYSE:DAVA) in its Q1 2023 investor letter:

“Finally, Endava plc (NYSE:DAVA), an IT services consulting firm, has seen activity slow into the end of last year amidst a more cautious operating environment where discretionary IT spending is being paused. Longer-term, however, we have no questions around Endava’s ability to play a critical role in facilitating digital transformation for their clients across a variety of industries and end markets.”

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Endava plc (NYSE:DAVA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Endava plc (NYSE:DAVA) at the end of the fourth quarter which was 13 in the previous quarter.

We discussed Endava plc (NYSE:DAVA) in another article and shared Baron Opportunity Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 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.