10,318 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Acquired by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,318 shares of the technology company's stock, valued at approximately $458,000.

A number of other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its stake in Varonis Systems by 29.5% during 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 period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems during the third quarter worth $184,000. Atom Investors LP purchased a new stake in shares of Varonis Systems during the third quarter worth $224,000. Tidal Investments LLC acquired a new stake in shares of Varonis Systems in the third quarter valued at $232,000. Finally, R Squared Ltd purchased a new position in Varonis Systems in the fourth quarter valued at $194,000. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Stock Performance

Shares of VRNS remained flat at $41.69 during mid-day trading on Thursday. The stock had a trading volume of 746,549 shares, compared to its average volume of 1,411,300. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. Varonis Systems, Inc. has a 1-year low of $39.11 and a 1-year high of $60.58. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -48.48 and a beta of 0.85. The business has a fifty day moving average of $42.85 and a 200-day moving average of $48.46.

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Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its earnings results 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%. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on VRNS shares. Citigroup lowered their price objective on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. DA Davidson lowered their price target on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, December 12th. Wells Fargo & Company dropped their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Jefferies Financial Group decreased their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley began coverage on Varonis Systems in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.38.

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.