Short Interest in Endava plc (NYSE:DAVA) Expands By 12.2%

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

Endava Price Performance

Shares of Endava stock opened at $29.44 on Wednesday. Endava has a 12 month low of $24.51 and a 12 month high of $81.06. The stock has a market capitalization of $1.70 billion, a P/E ratio of 32.71 and a beta of 1.22. The business has a 50 day simple moving average of $30.71 and a two-hundred day simple moving average of $31.11.

Institutional Investors Weigh In On Endava

Large investors have recently modified their holdings of the business. Assetmark Inc. boosted its stake in Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after buying an additional 165 shares during the last quarter. Quadrant Capital Group LLC increased its position in Endava by 34.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock worth $111,000 after purchasing an additional 368 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Endava by 5.6% during the first quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock worth $353,000 after purchasing an additional 495 shares during the period. Capital International Sarl boosted its holdings in Endava by 4.3% in the 4th quarter. Capital International Sarl now owns 16,996 shares of the company’s stock valued at $1,323,000 after purchasing an additional 708 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Endava by 18.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,316 shares of the company’s stock valued at $414,000 after buying an additional 833 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DAVA shares. TD Cowen decreased their price objective on Endava from $46.00 to $42.00 and set a “buy” rating for the company in a report on Friday, May 24th. Redburn Atlantic initiated coverage on shares of Endava in a research note on Friday, May 24th. They set a “neutral” rating and a $33.10 price objective on the stock. Wedbush decreased their target price on shares of Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. JPMorgan Chase & Co. raised their price target on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Guggenheim decreased their price objective on shares of Endava from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.01.

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.