Bank of Montreal Can Acquires 522,075 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Bank of Montreal Can raised its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 114.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 979,769 shares of the technology company's stock after purchasing an additional 522,075 shares during the quarter. Bank of Montreal Can owned approximately 0.87% of Varonis Systems worth $43,531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. William Blair Investment Management LLC grew its holdings in Varonis Systems by 2.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after acquiring an additional 52,971 shares during the period. Barclays PLC grew its stake in Varonis Systems by 10.0% in the third quarter. Barclays PLC now owns 389,522 shares of the technology company's stock valued at $22,007,000 after purchasing an additional 35,274 shares in the last quarter. Advantage Alpha Capital Partners LP raised its position in Varonis Systems by 30.1% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company's stock worth $4,038,000 after acquiring an additional 21,040 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock worth $100,789,000 after purchasing an additional 147,081 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Varonis Systems by 761.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company's stock worth $50,026,000 after acquiring an additional 995,274 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VRNS. StockNews.com cut shares of Varonis Systems from a "hold" rating to a "sell" rating in a research report on Friday. Needham & Company LLC reiterated a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. Wells Fargo & Company dropped their price objective on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Morgan Stanley assumed coverage on Varonis Systems in a research report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, Piper Sandler dropped their target price on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Varonis Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.76.

Varonis Systems Trading Up 0.7 %

NASDAQ VRNS traded up $0.31 during mid-day trading on Tuesday, reaching $41.97. 217,130 shares of the stock were exchanged, compared to its average volume of 1,507,235. 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 stock has a market cap of $4.72 billion, a P/E ratio of -48.80 and a beta of 0.76. The stock has a 50 day simple moving average of $41.48 and a 200-day simple moving average of $46.99. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58.

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

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

About Varonis Systems

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.