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

Endava plc (NYSE:DAVA) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 981,100 shares, a decline of 10.0% from the November 15th total of 1,090,000 shares. Based on an average trading volume of 554,900 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Investors Weigh In On Endava

Several large investors have recently made changes to their positions in DAVA. Blue Trust Inc. acquired a new stake in Endava during the 3rd quarter valued at $30,000. Signaturefd LLC grew its holdings in Endava by 84.1% during the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after purchasing an additional 886 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Endava during the 2nd quarter valued at $216,000. Precision Wealth Strategies LLC grew its holdings in Endava by 6.7% during the 3rd 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 holdings in Endava by 11.4% during 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 in the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DAVA shares. Guggenheim decreased their price objective on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted 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. TD Cowen boosted their price objective on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup decreased their price objective on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a 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 on the stock in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.83.

Endava Trading Up 2.0 %

Shares of DAVA traded up $0.61 on Tuesday, hitting $30.82. 428,787 shares of the stock traded hands, compared to its average volume of 527,713. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.82 billion, a P/E ratio of 219.93, a P/E/G ratio of 2.16 and a beta of 1.24. The stock’s 50 day moving average is $26.98 and its two-hundred day moving average is $28.27. Endava has a 1 year low of $23.28 and a 1 year high of $81.06.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The company had revenue of $245.30 million for the quarter, compared to analyst estimates of $248.65 million. As a group, sell-side analysts predict that Endava will post 0.65 earnings per share for the current year.

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.