Bryce Point Capital LLC Buys New Shares in Varonis Systems, Inc. (NASDAQ:VRNS)

Bryce Point Capital LLC acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,206 shares of the technology company's stock, valued at approximately $498,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Virtue Capital Management LLC increased its stake in Varonis Systems by 2.3% during the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock valued at $919,000 after purchasing an additional 364 shares in the last quarter. Bailard Inc. increased its position in shares of Varonis Systems by 0.4% during the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock worth $4,160,000 after acquiring an additional 417 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Varonis Systems by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company's stock worth $1,786,000 after acquiring an additional 424 shares during the last quarter. Arizona State Retirement System lifted its position in Varonis Systems by 1.3% in the 4th quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock valued at $1,445,000 after acquiring an additional 425 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Varonis Systems by 0.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company's stock valued at $3,352,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 95.65% of the company's stock.

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Varonis Systems Stock Performance

Shares of NASDAQ:VRNS traded down $2.12 during trading on Friday, hitting $38.36. 2,294,460 shares of the company were exchanged, compared to its average volume of 1,483,556. Varonis Systems, Inc. has a 52-week low of $37.81 and a 52-week high of $60.58. The stock has a 50 day moving average of $42.29 and a 200 day moving average of $47.88. 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 company has a market cap of $4.32 billion, a PE ratio of -44.60 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates 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%. As a group, equities research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has initiated a share buyback plan on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently weighed in on VRNS shares. Wells Fargo & Company dropped their target price on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. StockNews.com raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Friday, March 28th. Cantor Fitzgerald started coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price target on the stock. Finally, Citigroup decreased their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Varonis Systems presently has a consensus rating of "Moderate Buy" and an average target price of $58.53.

Varonis Systems Company 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.