Short Interest in Endava plc (NYSE:DAVA) Expands By 10.5%

Endava plc (NYSE:DAVA - Get Free Report) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,160,000 shares, an increase of 10.5% from the December 31st total of 1,050,000 shares. Based on an average daily volume of 468,700 shares, the short-interest ratio is currently 2.5 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on DAVA shares. Needham & Company LLC raised their target price on shares of Endava from $36.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Guggenheim cut their target price on shares of Endava from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Bank of America started coverage on shares of Endava in a research note on Friday, November 22nd. They issued a "neutral" rating and a $29.00 target price on the stock. Morgan Stanley raised their target price on shares of Endava from $33.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Finally, Citigroup cut their target price on shares of Endava from $30.00 to $27.00 and set a "neutral" rating on the stock in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.01.

Endava Stock Down 0.4 %

DAVA stock traded down $0.15 during mid-day trading on Friday, hitting $33.57. 457,688 shares of the company were exchanged, compared to its average volume of 308,587. Endava has a twelve month low of $23.28 and a twelve month high of $72.98. The firm has a fifty day simple moving average of $31.01 and a 200 day simple moving average of $29.16. 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 company has a market capitalization of $1.98 billion, a PE ratio of 239.79, a price-to-earnings-growth ratio of 2.29 and a beta of 1.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Mawer Investment Management Ltd. grew its position in Endava by 613.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company's stock worth $30,610,000 after purchasing an additional 1,030,403 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its position in Endava by 8.7% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 245,772 shares of the company's stock worth $6,279,000 after purchasing an additional 19,669 shares during the last quarter. State Street Corp grew its position in Endava by 33.0% in the 3rd quarter. State Street Corp now owns 80,148 shares of the company's stock worth $2,047,000 after purchasing an additional 19,884 shares during the last quarter. Horrell Capital Management Inc. grew its position in Endava by 76.5% in the 3rd quarter. Horrell Capital Management Inc. now owns 150,000 shares of the company's stock worth $3,831,000 after purchasing an additional 65,000 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Endava by 13.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 204,300 shares of the company's stock worth $6,313,000 after purchasing an additional 25,000 shares during the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.

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.