Short Interest in Endava plc (NYSE:DAVA) Drops By 10.0%

Endava plc (NYSE:DAVA) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 981,100 shares, a decline 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 days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

DAVA has been the topic of several recent analyst reports. Bank of America started coverage on Endava in a research note on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price target on the stock. Guggenheim dropped their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. TD Cowen upped their price objective on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Citigroup decreased their price target on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.83.

Endava Stock Up 2.0 %

DAVA stock traded up $0.61 during mid-day trading on Tuesday, reaching $30.82. The company had a trading volume of 428,787 shares, compared to its average volume of 527,713. The firm has a fifty day simple moving average of $26.98 and a 200 day simple moving average of $28.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 220.14, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24. Endava has a fifty-two week low of $23.28 and a fifty-two week high of $81.06.

Endava (NYSE:DAVA) last announced its quarterly earnings data on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). The firm had revenue of $245.30 million during the quarter, compared to analysts’ expectations of $248.65 million. Endava had a net margin of 0.92% and a return on equity of 1.10%. Analysts forecast that Endava will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Endava

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its holdings in shares of Endava by 6.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,578,646 shares of the company’s stock valued at $40,319,000 after buying an additional 98,875 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in Endava by 613.0% in the third 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 in the last quarter. FMR LLC boosted its stake in Endava by 1.4% in the third quarter. FMR LLC now owns 952,515 shares of the company’s stock valued at $24,327,000 after acquiring an additional 13,106 shares in the last quarter. Fourth Sail Capital LP grew its holdings in shares of Endava by 36.2% during 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. Finally, DF Dent & Co. Inc. increased its position in shares of Endava by 2.5% during the third quarter. DF Dent & Co. Inc. now owns 777,108 shares of the company’s stock worth $19,847,000 after purchasing an additional 18,882 shares in the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

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.