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

Endava plc (NYSE:DAVA - Get Free Report) was the target of a significant increase in short interest in 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 trading volume of 492,400 shares, the short-interest ratio is presently 2.1 days.

Endava Stock Performance

Shares of NYSE DAVA traded down $0.41 during mid-day trading on Thursday, hitting $30.49. The company had a trading volume of 426,768 shares, compared to its average volume of 521,179. Endava has a 12 month low of $23.28 and a 12 month high of $81.06. The firm has a market cap of $1.80 billion, a P/E ratio of 217.79, a PEG ratio of 2.16 and a beta of 1.24. The business's 50-day simple moving average is $28.34 and its 200-day simple moving average is $28.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Needham & Company LLC lifted their price objective 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. Citigroup reduced their price target on Endava from $30.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on Endava from $41.00 to $47.00 and gave the company an "overweight" rating in a report on Friday, September 6th. TD Cowen raised their price objective on Endava from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Susquehanna decreased their target price on Endava from $66.00 to $55.00 and set a "positive" rating for the company in a research report on Friday, September 20th. Four 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $39.83.

Hedge Funds Weigh In On Endava

Several large investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC bought a new stake in shares of Endava during the second quarter valued at approximately $865,000. Paradice Investment Management LLC bought a new position in shares of Endava during the 2nd quarter worth approximately $18,695,000. Kornitzer Capital Management Inc. KS boosted its stake in Endava by 30.1% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 218,624 shares of the company's stock valued at $6,393,000 after buying an additional 50,609 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Endava by 4,578.4% in the 2nd quarter. Acadian Asset Management LLC now owns 169,500 shares of the company's stock valued at $4,949,000 after buying an additional 165,877 shares in the last quarter. Finally, Mawer Investment Management Ltd. bought a new stake in Endava in the second quarter valued at $4,915,000. Institutional investors and hedge funds own 62.23% of the company's stock.

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.