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

Endava plc (NYSE:DAVA - Get Free Report) was the recipient of a large drop in short interest during 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 volume of 554,900 shares, the short-interest ratio is currently 1.8 days.

Endava Stock Up 2.0 %

Shares of Endava stock traded up $0.61 during trading on Tuesday, hitting $30.82. 428,787 shares of the stock were exchanged, compared to its average volume of 527,713. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 219.93, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24. The firm's 50-day moving average price is $26.98 and its 200 day moving average price is $28.27. Endava has a 12-month low of $23.28 and a 12-month high of $81.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. 272 Capital LP increased its stake in Endava by 156.3% in the third quarter. 272 Capital LP now owns 145,146 shares of the company's stock valued at $3,707,000 after purchasing an additional 88,518 shares during the period. DF Dent & Co. Inc. increased its stake in Endava by 2.5% in the third quarter. DF Dent & Co. Inc. now owns 777,108 shares of the company's stock valued at $19,847,000 after purchasing an additional 18,882 shares during the period. State Street Corp increased its stake in Endava by 33.0% in the third quarter. State Street Corp now owns 80,148 shares of the company's stock valued at $2,047,000 after purchasing an additional 19,884 shares during the period. HighTower Advisors LLC increased its stake in Endava by 11.7% in the third quarter. HighTower Advisors LLC now owns 15,143 shares of the company's stock valued at $390,000 after purchasing an additional 1,592 shares during the period. Finally, Circumference Group LLC increased its stake in Endava by 76.5% in the third quarter. Circumference Group LLC now owns 150,000 shares of the company's stock valued at $3,831,000 after purchasing an additional 65,000 shares during the period. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. 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. Needham & Company LLC raised their price target on shares of Endava from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. TD Cowen raised their price target on shares of Endava from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on shares of Endava from $41.00 to $47.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Finally, Citigroup decreased their price target on shares of Endava from $30.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.

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