Short Interest in Endava plc (NYSE:DAVA) Rises By 7.0%

Endava plc (NYSE:DAVA) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,050,000 shares, a growth of 7.0% from the November 30th total of 981,100 shares. Based on an average trading volume of 492,400 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

DAVA has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Guggenheim cut their price objective on 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 Endava in a research report on Friday, November 22nd. They set a “neutral” rating and a $29.00 target price for the company. Citigroup dropped their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 28th. Finally, Susquehanna decreased their price objective on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.83.

Endava Stock Performance

NYSE:DAVA opened at $30.90 on Thursday. The firm’s 50-day moving average is $28.23 and its 200-day moving average is $28.65. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 220.71, a PEG ratio of 2.16 and a beta of 1.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. Endava has a 52-week low of $23.28 and a 52-week high of $81.06.

Hedge Funds Weigh In On Endava

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in shares of Endava during the 3rd quarter worth approximately $30,000. Signaturefd LLC raised its position in Endava by 84.1% in the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock worth $50,000 after purchasing an additional 886 shares in the last quarter. Seven Eight Capital LP bought a new position in Endava during the second quarter worth about $216,000. Precision Wealth Strategies LLC boosted its holdings in Endava by 6.7% during the third quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock valued at $219,000 after purchasing an additional 540 shares in the last quarter. Finally, Strengthening Families & Communities LLC grew its stake in shares of Endava by 11.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock valued at $233,000 after purchasing an additional 933 shares during the period. 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.