Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 491,570 shares of the technology company's stock after selling 9,913 shares during the quarter. California Public Employees Retirement System owned approximately 0.44% of Varonis Systems worth $21,840,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC acquired a new stake in Varonis Systems during the 4th quarter worth $70,000. Pacer Advisors Inc. lifted its stake in shares of Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after buying an additional 603 shares in the last quarter. R Squared Ltd acquired a new position in Varonis Systems during the fourth quarter worth about $194,000. KBC Group NV grew its stake in Varonis Systems by 45.6% during the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company's stock valued at $211,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Atom Investors LP acquired a new stake in Varonis Systems in the 3rd quarter valued at about $224,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Price Performance

Shares of VRNS traded down $2.12 during mid-day trading on Friday, reaching $38.36. 2,294,460 shares of the company's stock 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 company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a 50-day simple moving average of $42.29 and a two-hundred day simple moving average of $47.88. The company has a market cap of $4.32 billion, a price-to-earnings ratio of -44.60 and a beta of 0.76.

Remove Ads

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its Board of Directors has approved a share 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 purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VRNS shares. StockNews.com upgraded Varonis Systems from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Wolfe Research upgraded 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. Wells Fargo & Company reduced their price target 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. Citigroup dropped their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, January 17th. Finally, Cantor Fitzgerald began coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an "overweight" rating and a $60.00 target price on the stock. 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.53.

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.