Endava plc (NYSE:DAVA) Short Interest Update

Endava plc (NYSE:DAVA) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 1,010,000 shares, an increase of 12.2% from the August 15th total of 900,000 shares. Based on an average daily volume of 364,200 shares, the days-to-cover ratio is presently 2.8 days.

Endava Trading Down 3.9 %

Shares of NYSE:DAVA traded down $1.29 on Monday, reaching $32.16. 414,117 shares of the company were exchanged, compared to its average volume of 516,461. Endava has a 1-year low of $24.51 and a 1-year high of $81.06. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 35.93 and a beta of 1.22. The company has a 50-day moving average of $30.65 and a 200-day moving average of $31.21.

Analyst Ratings Changes

Several brokerages have weighed in on DAVA. Redburn Atlantic began coverage on Endava in a report on Friday, May 24th. They issued a “neutral” rating and a $33.10 price target for the company. Guggenheim dropped their price target on shares of Endava from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday. Needham & Company LLC decreased their price objective on Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Wedbush reduced their price target on Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Finally, TD Cowen dropped their target price on Endava from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Endava currently has an average rating of “Moderate Buy” and an average price target of $46.01.

Hedge Funds Weigh In On Endava

Institutional investors and hedge funds have recently made changes to their positions in the stock. Truist Financial Corp acquired a new stake in shares of Endava during the 4th quarter worth about $207,000. Principal Securities Inc. purchased a new stake in Endava during the 4th quarter worth approximately $99,000. BNP Paribas Financial Markets increased its holdings in Endava by 13.3% during the 4th quarter. BNP Paribas Financial Markets now owns 8,778 shares of the company’s stock worth $683,000 after purchasing an additional 1,033 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Endava during the 4th quarter worth approximately $523,000. Finally, Principal Financial Group Inc. purchased a new stake in Endava during the 4th quarter worth approximately $5,551,000. 62.23% of the stock is owned by institutional investors and hedge funds.

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.