Endava plc (NYSE:DAVA) Short Interest Update

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 days-to-cover ratio is currently 2.8 days.

Endava Price Performance

DAVA stock traded down $1.29 during trading on Monday, reaching $32.16. The company had a trading volume of 414,117 shares, compared to its average volume of 516,461. Endava has a 52 week low of $24.51 and a 52 week high of $81.06. The company has a market cap of $1.86 billion, a P/E ratio of 35.93 and a beta of 1.22. The business has a 50 day moving average of $30.65 and a 200 day moving average of $31.21.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its position in shares of Endava by 2,113.9% during the 4th quarter. US Bancorp DE now owns 16,427 shares of the company’s stock valued at $1,279,000 after purchasing an additional 15,685 shares during the period. George Kaiser Family Foundation bought a new stake in shares of Endava during the 1st quarter valued at $1,136,000. SG Americas Securities LLC bought a new stake in Endava in the 1st quarter valued at $832,000. Neuberger Berman Group LLC bought a new stake in Endava in the 4th quarter valued at $1,837,000. Finally, Advisory Services Network LLC increased its holdings in Endava by 51.8% in the 4th quarter. Advisory Services Network LLC now owns 5,749 shares of the company’s stock valued at $448,000 after acquiring an additional 1,963 shares during the last quarter. 62.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC lowered their target price on shares of Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, May 24th. TD Cowen lowered their target price on shares of Endava from $46.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Wedbush lowered their target price on shares of Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Guggenheim lowered their target price on shares of Endava from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday. Finally, 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 for the company. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.01.

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.