Endava PLC Sponsored ADR (NYSE:DAVA) Sees Large Increase 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 daily volume of 828,000 shares, the short-interest ratio is presently 1.8 days. Approximately 3.1% of the company's stock are short sold.

Institutional Trading of Endava

A number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its position in shares of Endava by 16.1% during the first quarter. Jane Street Group LLC now owns 10,682 shares of the company's stock valued at $208,000 after buying an additional 1,482 shares during the period. Circumference Group LLC grew its stake in Endava by 48.8% during the first quarter. Circumference Group LLC now owns 251,500 shares of the company's stock valued at $4,907,000 after acquiring an additional 82,500 shares in the last quarter. State of Wyoming increased its holdings in Endava by 112.7% during the 1st quarter. State of Wyoming now owns 2,367 shares of the company's stock worth $46,000 after acquiring an additional 1,254 shares during the period. Trexquant Investment LP bought a new position in Endava in the 1st quarter valued at $764,000. Finally, Next Century Growth Investors LLC bought a new position in Endava in the 1st quarter valued at $1,929,000. Hedge funds and other institutional investors own 62.23% of the company's stock.

Endava Stock Performance

DAVA traded down $0.37 on Thursday, hitting $14.58. The company's stock had a trading volume of 677,067 shares, compared to its average volume of 549,052. The firm has a market cap of $860.66 million, a P/E ratio of 38.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15. Endava has a 12 month low of $14.00 and a 12 month high of $34.94. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The company's 50 day simple moving average is $16.89 and its 200-day simple moving average is $23.90.

Analyst Ratings Changes

DAVA has been the subject of several analyst reports. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.00 price objective on shares of Endava in a research note on Monday, May 19th. TD Cowen downgraded Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective for the company. in a research note on Thursday, May 15th. Susquehanna decreased their target price on Endava from $50.00 to $42.00 and set a "positive" rating for the company in a research report on Tuesday, May 20th. Cowen downgraded shares of Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Needham & Company LLC increased their price target on shares of Endava from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Endava has an average rating of "Hold" and an average target price of $26.63.

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.

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