Endava plc (NYSE:DAVA) Short Interest Down 10.0% in November

Endava plc (NYSE:DAVA) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 981,100 shares, a drop of 10.0% from the November 15th total of 1,090,000 shares. Based on an average daily trading volume, of 554,900 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DAVA shares. Bank of America initiated coverage on shares of Endava in a report on Friday, November 22nd. They set a “neutral” rating and a $29.00 price objective on the stock. Citigroup decreased their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 28th. Guggenheim dropped their price objective on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Susquehanna decreased their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Finally, TD Cowen lifted their price objective on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Endava has an average rating of “Moderate Buy” and an average target price of $39.83.

Hedge Funds Weigh In On Endava

Several large investors have recently made changes to their positions in DAVA. SG Americas Securities LLC raised its position in Endava by 56.2% during the second quarter. SG Americas Securities LLC now owns 34,152 shares of the company’s stock worth $999,000 after acquiring an additional 12,285 shares during the period. Institute for Wealth Management LLC. lifted its stake in Endava by 22.4% in the 2nd quarter. Institute for Wealth Management LLC. now owns 10,763 shares of the company’s stock valued at $315,000 after buying an additional 1,972 shares in the last quarter. Natixis Advisors LLC acquired a new stake in Endava in the 2nd quarter worth about $865,000. Paradice Investment Management LLC purchased a new stake in Endava during the 2nd quarter worth approximately $18,695,000. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Endava by 30.1% during the second quarter. Kornitzer Capital Management Inc. KS now owns 218,624 shares of the company’s stock valued at $6,393,000 after acquiring an additional 50,609 shares during the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Endava Stock Performance

Shares of DAVA stock traded up $0.61 during mid-day trading on Tuesday, reaching $30.82. The stock had a trading volume of 428,787 shares, compared to its average volume of 527,713. 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 220.14, a PEG ratio of 2.16 and a beta of 1.24. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $26.98 and its 200-day moving average is $28.27.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The business had revenue of $245.30 million during the quarter, compared to analyst estimates of $248.65 million. On average, research analysts forecast that Endava will post 0.65 earnings per share for the current year.

Endava Company Profile

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.