Canada Pension Plan Investment Board Has $1.15 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Canada Pension Plan Investment Board lifted its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 616.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,800 shares of the technology company's stock after acquiring an additional 22,200 shares during the quarter. Canada Pension Plan Investment Board's holdings in Varonis Systems were worth $1,146,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC bought a new position in Varonis Systems during the fourth quarter worth $70,000. Pacer Advisors Inc. lifted its position in shares of Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after buying an additional 603 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Varonis Systems in the 3rd quarter valued at about $232,000. R Squared Ltd bought a new stake in shares of Varonis Systems during the 4th quarter valued at about $194,000. Finally, KBC Group NV raised its stake in Varonis Systems by 45.6% during the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company's stock worth $211,000 after acquiring an additional 1,488 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Price Performance

Shares of VRNS traded down $0.07 during mid-day trading on Monday, hitting $42.21. The company's stock had a trading volume of 696,481 shares, compared to its average volume of 1,520,504. 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 50-day moving average price of $41.13 and a 200 day moving average price of $46.01. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -49.08 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) EPS 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%. On average, research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has authorized a stock repurchase 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 purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

VRNS has been the subject of several recent research reports. StockNews.com lowered Varonis Systems from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Wolfe Research upgraded Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research note on Friday, March 28th. JPMorgan Chase & Co. cut their target price on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday. Citigroup lowered their price target on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Finally, Morgan Stanley cut their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus price target of $56.00.

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.