Endava plc (NYSE:DAVA) Sees Large Decline in Short Interest

Endava plc (NYSE:DAVA) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 1,130,000 shares, a decline of 5.8% from the September 15th total of 1,200,000 shares. Based on an average trading volume of 435,300 shares, the short-interest ratio is presently 2.6 days.

Analyst Ratings Changes

Several research analysts recently weighed in on DAVA shares. Susquehanna cut their target price on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Needham & Company LLC reduced their target price on shares of Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Guggenheim cut their price objective on Endava from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their target price on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.31.

Endava Stock Up 0.3 %

Shares of Endava stock traded up $0.08 on Thursday, hitting $26.40. 180,809 shares of the company’s stock traded hands, compared to its average volume of 536,107. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average is $28.62 and its 200 day moving average is $29.42. The stock has a market cap of $1.52 billion, a P/E ratio of 29.22 and a beta of 1.21. Endava has a 52-week low of $23.28 and a 52-week high of $81.06.

Endava (NYSE:DAVA) last announced its quarterly earnings data on Thursday, September 19th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.13). The company had revenue of $245.30 million for the quarter, compared to analyst estimates of $248.65 million. Endava had a return on equity of 2.76% and a net margin of 2.30%. Equities analysts anticipate that Endava will post 0.77 earnings per share for the current year.

Institutional Investors Weigh In On Endava

Several institutional investors and hedge funds have recently made changes to their positions in DAVA. Handelsbanken Fonder AB lifted its stake in Endava by 78.3% during the third quarter. Handelsbanken Fonder AB now owns 14,800 shares of the company’s stock valued at $378,000 after purchasing an additional 6,500 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Endava during the 2nd quarter worth about $263,000. Point72 Asset Management L.P. purchased a new stake in Endava during the second quarter valued at about $1,835,000. Millennium Management LLC boosted its holdings in shares of Endava by 64.5% in the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock worth $16,697,000 after buying an additional 223,964 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of Endava by 36.5% in the second quarter. Squarepoint Ops LLC now owns 10,322 shares of the company’s stock worth $302,000 after acquiring an additional 2,759 shares in the last quarter. 62.23% of the stock is 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.