Endava plc (NYSE:DAVA) Short Interest Update

Endava plc (NYSE:DAVA) was the target of a large increase in short interest in 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 daily volume of 648,000 shares, the short-interest ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DAVA. Morgan Stanley reiterated an “equal weight” rating and issued a $40.00 target price on shares of Endava in a research note on Monday, April 22nd. Wedbush decreased their price objective on shares of Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Needham & Company LLC dropped their target price on Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Guggenheim reduced their price target on Endava from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Redburn Atlantic initiated coverage on Endava in a report on Friday, May 24th. They issued a “neutral” rating and a $33.10 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Endava has an average rating of “Moderate Buy” and a consensus target price of $46.41.

Endava Trading Up 1.3 %

NYSE:DAVA traded up $0.38 during trading hours on Tuesday, hitting $29.48. The company had a trading volume of 31,391 shares, compared to its average volume of 593,286. Endava has a 1 year low of $24.51 and a 1 year high of $81.06. The company has a 50-day moving average of $28.64 and a 200 day moving average of $47.28. The company has a market cap of $1.70 billion, a P/E ratio of 32.34 and a beta of 1.22.

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

Institutional Investors Weigh In On Endava

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC increased its position in shares of Endava by 35.4% during the first quarter. Cetera Advisors LLC now owns 8,065 shares of the company’s stock valued at $307,000 after acquiring an additional 2,110 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Endava during the 1st quarter worth approximately $596,000. Silvercrest Asset Management Group LLC increased its holdings in Endava by 9.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock valued at $11,868,000 after purchasing an additional 27,797 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Endava by 15,560.6% during the first quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock worth $6,511,000 after purchasing an additional 170,077 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Endava during the first quarter worth $841,000. 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.