Short Interest in Endava plc (NYSE:DAVA) Grows By 10.3%

Endava plc (NYSE:DAVA) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 900,000 shares, an increase of 10.3% from the July 31st total of 816,100 shares. Based on an average trading volume of 462,600 shares, the days-to-cover ratio is currently 1.9 days.

Endava Price Performance

NYSE:DAVA traded down $1.56 during trading hours on Tuesday, reaching $30.41. 84,841 shares of the company were exchanged, compared to its average volume of 525,601. The business has a 50 day moving average of $30.25 and a 200 day moving average of $33.40. Endava has a 1-year low of $24.51 and a 1-year high of $81.06. The company has a market capitalization of $1.76 billion, a P/E ratio of 35.52 and a beta of 1.22.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Endava from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Needham & Company LLC cut their price target on shares of Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Guggenheim reduced their price target on Endava from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Redburn Atlantic initiated coverage on Endava in a report on Friday, May 24th. They set a “neutral” rating and a $33.10 target price on the stock. Finally, Wedbush cut their price objective on Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.41.

Hedge Funds Weigh In On Endava

Several hedge funds and other institutional investors have recently made changes to their positions in DAVA. Capital International Investors boosted its holdings in shares of Endava by 3.2% in the 4th quarter. Capital International Investors now owns 2,115,202 shares of the company’s stock valued at $164,668,000 after purchasing an additional 65,794 shares in the last quarter. CDAM UK Ltd boosted its position in Endava by 1.8% in the fourth quarter. CDAM UK Ltd now owns 1,451,449 shares of the company’s stock valued at $112,995,000 after buying an additional 25,570 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Endava by 2.0% during the first quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock worth $48,025,000 after buying an additional 24,699 shares during the last quarter. Capital World Investors increased its holdings in shares of Endava by 39.3% during the fourth quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after buying an additional 278,300 shares in the last quarter. Finally, Fourth Sail Capital LP bought a new position in shares of Endava in the 1st quarter valued at $27,622,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.