SCHEDULE: Kayne Anderson Rudnick Boosts Endava Stake to 15.5%

Kayne Anderson Rudnick Investment Management, LLC, along with affiliates, reported a 15.5% beneficial ownership in Endava PLC as of September 30, 2025.

Summary

• Kayne Anderson Rudnick Investment Management, LLC reported beneficial ownership of 6,312,443 American Depository Shares (ADS) of Endava PLC, representing 15.5% of the class.
• Virtus Investment Advisers, LLC reported beneficial ownership of 3,887,612 ADS, representing 9.5% of the class. These amounts are included in Kayne Anderson Rudnick's reported ownership.
• Virtus Equity Trust, on behalf of Virtus KAR Small-Cap Growth Fund, reported beneficial ownership of 3,756,400 ADS, representing 9.2% of the class. These amounts are included in Virtus Investment Advisers' reported ownership.
• Kayne Anderson Rudnick holds sole voting power over 1,708,420 shares and shared voting power over 4,496,160 shares.
• Kayne Anderson Rudnick holds sole dispositive power over 1,816,283 shares and shared dispositive power over 4,496,160 shares.
• Virtus Investment Advisers and Virtus Equity Trust primarily hold shared voting and dispositive power, with no sole voting or dispositive power reported for these entities.

Sentiment

Score: 7

Explanation: The filing indicates significant institutional confidence in Endava PLC through substantial beneficial ownership by Kayne Anderson Rudnick and its affiliates, which is generally a positive signal for investors.

Positives

• Significant institutional ownership by Kayne Anderson Rudnick Investment Management, LLC and its affiliates, totaling 15.5%, signals strong confidence from a major investment firm.
• The substantial stake by a registered investment adviser suggests a thorough due diligence process and a long-term investment perspective.

Future Outlook

This filing is an ownership disclosure and does not contain forward-looking statements or guidance from Endava PLC.

Industry Context

The disclosure of a significant institutional stake by a prominent investment management firm like Kayne Anderson Rudnick is a common occurrence in the public markets. Such filings often indicate that large institutional investors see value in the company's long-term prospects, potentially influencing other investors' perceptions and the company's stock performance. This level of ownership suggests Endava PLC is a notable holding within the portfolios managed by these entities.

Stakeholder Impact

• Shareholders may view the significant institutional ownership as a positive indicator of the company's value and future prospects, potentially leading to increased investor confidence and demand for shares.
• The presence of a large institutional investor can sometimes lead to increased scrutiny of corporate governance and strategic decisions, which can benefit all stakeholders.

Key Dates

Recommendation

The filing indicates a substantial beneficial ownership stake by a reputable investment management firm and its affiliates, suggesting institutional confidence in Endava PLC. While this is a positive signal, a Schedule 13G primarily discloses ownership and does not provide detailed financial or operational performance data to warrant a 'buy' or 'sell' recommendation. Therefore, a 'hold' recommendation is appropriate, pending further analysis of the company's fundamentals.

Keywords

Endava PLC, Kayne Anderson Rudnick, Virtus Investment Advisers, Virtus Equity Trust, Institutional Ownership, Schedule 13G, Beneficial Ownership, Investment Management, American Depository Shares, ADS