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

Endava plc (NYSE:DAVA) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,050,000 shares, an increase 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.

Endava Stock Down 0.4 %

Shares of Endava stock opened at $30.90 on Thursday. Endava has a 1 year low of $23.28 and a 1 year high of $81.06. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 220.71, a PEG ratio of 2.16 and a beta of 1.24. The company has a 50-day moving average of $28.23 and a 200 day moving average of $28.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90.

Hedge Funds Weigh In On Endava

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. bought a new stake in shares of Endava in the 3rd quarter worth approximately $30,000. Signaturefd LLC raised its stake in Endava by 84.1% during the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after buying an additional 886 shares during the last quarter. Seven Eight Capital LP bought a new stake in Endava in the second quarter worth $216,000. Precision Wealth Strategies LLC grew its stake in shares of Endava by 6.7% in the third quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock worth $219,000 after acquiring an additional 540 shares during the last quarter. Finally, Strengthening Families & Communities LLC increased its holdings in shares of Endava by 11.4% during the third quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock valued at $233,000 after acquiring an additional 933 shares in the last quarter. Institutional investors own 62.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Guggenheim reduced their price target on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Bank of America assumed coverage on Endava in a report on Friday, November 22nd. They set a “neutral” rating and a $29.00 target price for the company. Citigroup cut their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, October 28th. Susquehanna decreased their price objective on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a report on Friday, September 20th. Finally, Needham & Company LLC lifted their target price on shares of Endava from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.83.

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.