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

Endava plc (NYSE:DAVA) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,010,000 shares, an increase of 12.2% from the August 15th total of 900,000 shares. Based on an average daily volume of 364,200 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Investors Weigh In On Endava

Institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in Endava in the 2nd quarter valued at approximately $263,000. Point72 Asset Management L.P. purchased a new position in shares of Endava in the second quarter valued at approximately $1,835,000. Millennium Management LLC boosted its stake in shares of Endava by 64.5% in the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock valued at $16,697,000 after purchasing an additional 223,964 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Endava by 36.5% in the second quarter. Squarepoint Ops LLC now owns 10,322 shares of the company’s stock valued at $302,000 after purchasing an additional 2,759 shares in the last quarter. Finally, 272 Capital LP increased its stake in Endava by 157.4% during the 2nd quarter. 272 Capital LP now owns 56,628 shares of the company’s stock worth $1,656,000 after buying an additional 34,628 shares during the period. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DAVA has been the topic of a number of recent research reports. Redburn Atlantic started coverage on shares of Endava in a research report on Friday, May 24th. They set a “neutral” rating and a $33.10 price target on the stock. JPMorgan Chase & Co. boosted their target price on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Needham & Company LLC reduced their price objective on Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Guggenheim lowered their price objective on Endava from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday. Finally, TD Cowen cut their target price on Endava from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.01.

Endava Trading Down 7.9 %

NYSE DAVA opened at $29.44 on Wednesday. The stock has a fifty day simple moving average of $30.71 and a 200-day simple moving average of $31.11. Endava has a twelve month low of $24.51 and a twelve month high of $81.06. The stock has a market cap of $1.70 billion, a PE ratio of 32.71 and a beta of 1.22.

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.