PAX Financial Group LLC Acquires New Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

PAX Financial Group LLC acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,664 shares of the technology company's stock, valued at approximately $829,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Varonis Systems by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock valued at $544,124,000 after acquiring an additional 193,210 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Varonis Systems by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company's stock valued at $147,801,000 after purchasing an additional 29,050 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Varonis Systems by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after buying an additional 52,971 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Varonis Systems by 1.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company's stock valued at $101,636,000 after buying an additional 29,852 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after buying an additional 147,081 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

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Wall Street Analysts Forecast Growth

VRNS has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Jefferies Financial Group cut their price objective on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. Cantor Fitzgerald began coverage on shares of Varonis Systems in a report on Thursday, January 9th. They issued an "overweight" rating and a $60.00 target price on the stock. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Friday, March 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.53.

Varonis Systems Trading Down 5.2 %

Shares of VRNS stock traded down $2.12 during trading hours on Friday, reaching $38.36. The company had a trading volume of 2,294,460 shares, compared to its average volume of 1,483,556. Varonis Systems, Inc. has a 1-year low of $37.81 and a 1-year high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of -44.60 and a beta of 0.76. The company has a 50 day moving average of $42.29 and a 200 day moving average of $47.84.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. On average, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its board has authorized a stock buyback program on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Varonis Systems Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.