Endava plc (NYSE:DAVA) Short Interest Up 25.7% in June

Endava plc (NYSE:DAVA) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 687,100 shares, an increase of 25.7% from the May 31st total of 546,500 shares. Based on an average trading volume of 648,000 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. TD Cowen lowered their target price on Endava from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. JPMorgan Chase & Co. cut their price objective on shares of Endava from $43.00 to $41.00 and set an “overweight” rating for the company 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. Redburn Atlantic began coverage on Endava in a research note on Friday, May 24th. They issued a “neutral” rating and a $33.10 price target for the company. Finally, Needham & Company LLC reduced their price target on Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.41.

Endava Price Performance

Shares of DAVA opened at $29.11 on Tuesday. The firm has a 50 day simple moving average of $28.64 and a two-hundred day simple moving average of $47.28. The company has a market cap of $1.68 billion, a P/E ratio of 32.34 and a beta of 1.22. Endava has a one year low of $24.51 and a one year high of $81.06.

Endava (NYSE:DAVA) last announced its quarterly earnings data on Thursday, May 23rd. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.10). The business had revenue of $221.14 million for the quarter, compared to the consensus estimate of $220.59 million. Endava had a return on equity of 7.13% and a net margin of 5.69%. On average, analysts expect that Endava will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Endava

A number of hedge funds have recently made changes to their positions in DAVA. Redwood Investments LLC lifted its stake in Endava by 666.2% in the 4th quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock valued at $3,149,000 after purchasing an additional 35,175 shares during the last quarter. Simon Quick Advisors LLC bought a new position in shares of Endava in the 4th quarter valued at $5,074,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Endava by 76.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 115,000 shares of the company’s stock valued at $6,595,000 after acquiring an additional 50,000 shares during the last quarter. US Bancorp DE boosted its holdings 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 acquiring an additional 15,685 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in Endava during the 4th quarter worth $17,540,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.