SCHEDULE: T. Rowe Price Discloses 9.5% Stake in Endava PLC

T. Rowe Price Investment Management, Inc. has reported a 9.5% beneficial ownership stake in Endava PLC as of December 31, 2025.

Summary

• T. Rowe Price Investment Management, Inc. filed a Schedule 13G, reporting beneficial ownership of American Depositary Receipts (ADRs) of Endava PLC.
• The firm holds 3,886,478 ADRs, which represents 9.5% of Endava PLC's class of securities.
• T. Rowe Price Investment Management, Inc. exercises sole voting and sole dispositive power over all 3,886,478 shares.
• The filing indicates that one specific client, T. ROWE PRICE SMALL-CAP VALUE FUND, holds 2,096,783 shares, accounting for 5.1% of the class.
• The event date requiring this filing was December 31, 2025, with the statement signed on February 6, 2026.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a strong positive signal, as a significant stake by a reputable investment manager like T. Rowe Price often implies a vote of confidence in the company's long-term prospects and valuation.

Positives

• A significant institutional investment by T. Rowe Price, a highly reputable asset manager, signals confidence in Endava PLC's long-term prospects.
• The substantial 9.5% stake suggests a thorough due diligence process and a conviction in the company's valuation or growth potential.
• The fact that a specific fund, T. Rowe Price Small-Cap Value Fund, holds over 5% of the class indicates a concentrated and meaningful position within that fund's portfolio.

Risks

• T. Rowe Price Investment Management, Inc. expressly denies beneficial ownership of the securities, stating that clients or their custodians ultimately have the right to receive dividends and proceeds from sales.
• Any discretionary authority delegated to T. Rowe Price by its clients can be revoked in whole or in part at any time, potentially leading to changes in ownership.

Future Outlook

NA

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.
• T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

Industry Context

StockSavvy.ai notes that a significant stake (9.5%) by a major institutional investor like T. Rowe Price often indicates a thorough due diligence process and a long-term investment thesis, potentially signaling underlying value or growth prospects in Endava PLC within the IT services and consulting sector. This type of disclosure can attract further investor attention to the company.

Comparison to Industry Standards

• StockSavvy.ai observes that institutional ownership levels vary across industries and company sizes. For a company like Endava PLC, operating in the competitive IT services sector, a nearly 10% stake by a prominent asset manager like T. Rowe Price is a notable endorsement.
• While specific comparable companies or projects are not detailed in this filing, such a substantial position suggests T. Rowe Price's conviction in Endava's business model and market position relative to its peers in the digital transformation and technology consulting space.

Stakeholder Impact

• Shareholders: Increased confidence due to the backing of a major institutional investor, potentially leading to greater market visibility and liquidity.
• Management: Validation of current strategic direction and operational execution from a significant investor, which can bolster internal morale and external perception.

Key Dates

Recommendation

The disclosure of T. Rowe Price Investment Management, Inc.'s 9.5% stake in Endava PLC is a positive indicator of institutional confidence. However, this Schedule 13G filing primarily reports a beneficial ownership position rather than new operational or financial performance data. Seasoned investors would likely view this as a reaffirmation of Endava's investment case by a respected asset manager, suggesting a 'hold' position for existing investors and a signal for potential new investors to conduct further due diligence on Endava's fundamentals, rather than an immediate catalyst for a 'buy' decision based solely on this filing.

Keywords

Endava PLC, T. Rowe Price, Schedule 13G, beneficial ownership, institutional investor, ADR, investment management, 9.5% stake, T. Rowe Price Small-Cap Value Fund