Endava PLC Sponsored ADR (NYSE:DAVA) Sees Large Growth in Short Interest

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 1,490,000 shares, a growth of 23.1% from the May 15th total of 1,210,000 shares. Based on an average trading volume of 828,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 3.1% of the company's stock are short sold.

Endava Stock Performance

DAVA traded down $0.55 on Friday, reaching $13.97. 916,761 shares of the stock were exchanged, compared to its average volume of 549,815. The company's 50-day moving average price is $16.74 and its 200 day moving average price is $23.64. Endava has a fifty-two week low of $13.92 and a fifty-two week high of $34.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 2.18. The firm has a market capitalization of $824.71 million, a PE ratio of 36.77, a PEG ratio of 1.25 and a beta of 1.15.

Analyst Upgrades and Downgrades

DAVA has been the topic of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and set a $25.00 price objective on shares of Endava in a research report on Tuesday, June 10th. Needham & Company LLC raised their target price on shares of Endava from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen raised Endava from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. TD Cowen cut Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective for the company. in a research report on Thursday, May 15th. Finally, Susquehanna lowered their price objective on Endava from $50.00 to $42.00 and set a "positive" rating for the company in a research report on Tuesday, May 20th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $26.63.

Institutional Trading of Endava

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Endava by 28.5% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company's stock worth $46,000 after purchasing an additional 331 shares during the period. Assetmark Inc. lifted its stake in Endava by 93.1% during the 4th quarter. Assetmark Inc. now owns 985 shares of the company's stock valued at $30,000 after acquiring an additional 475 shares during the period. Smartleaf Asset Management LLC lifted its stake in Endava by 23.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock valued at $72,000 after acquiring an additional 689 shares during the period. Portside Wealth Group LLC lifted its stake in Endava by 5.7% during the 1st quarter. Portside Wealth Group LLC now owns 13,145 shares of the company's stock valued at $256,000 after acquiring an additional 711 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in Endava by 114.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock valued at $46,000 after acquiring an additional 786 shares during the period. 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.