Endava plc (NYSE:DAVA) Sees Significant Increase in Short Interest

Endava plc (NYSE:DAVA) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 1,050,000 shares, a growth of 7.0% from the November 30th total of 981,100 shares. Based on an average daily volume of 492,400 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DAVA shares. TD Cowen increased their price objective on Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Bank of America initiated coverage on Endava in a report on Friday, November 22nd. They set a “neutral” rating and a $29.00 price objective for the company. Guggenheim lowered their target price on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Susquehanna cut their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.83.

Endava Price Performance

Shares of Endava stock opened at $30.90 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. Endava has a 52-week low of $23.28 and a 52-week high of $81.06. The company has a fifty day moving average of $28.23 and a 200-day moving average of $28.65. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 220.71, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24.

Institutional Trading of Endava

Institutional investors have recently added to or reduced their stakes in the business. Mawer Investment Management Ltd. boosted its holdings in Endava by 613.0% during the 3rd quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after acquiring an additional 1,030,403 shares during the period. Paradice Investment Management LLC purchased a new stake in shares of Endava during the second quarter valued at approximately $18,695,000. Fourth Sail Capital LP grew its holdings in shares of Endava by 36.2% in the third quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock worth $23,782,000 after purchasing an additional 247,418 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Endava by 64.5% in the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock worth $16,697,000 after purchasing an additional 223,964 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Endava by 4,578.4% in the second quarter. Acadian Asset Management LLC now owns 169,500 shares of the company’s stock worth $4,949,000 after buying an additional 165,877 shares during the period. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

About Endava

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.