Connor Clark & Lunn Investment Management Ltd. Increases Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 97.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,516 shares of the technology company's stock after acquiring an additional 124,368 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of Varonis Systems worth $14,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VRNS. EFG Asset Management North America Corp. lifted its stake in shares of Varonis Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company's stock valued at $2,181,000 after purchasing an additional 216 shares during the period. O Neil Global Advisors Inc. boosted its holdings in shares of Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company's stock worth $229,000 after buying an additional 220 shares in the last quarter. Hanseatic Management Services Inc. grew its position in shares of Varonis Systems by 1.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company's stock worth $770,000 after buying an additional 275 shares during the period. Xponance Inc. increased its stake in shares of Varonis Systems by 5.6% in the 2nd quarter. Xponance Inc. now owns 6,975 shares of the technology company's stock valued at $335,000 after acquiring an additional 367 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Varonis Systems by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company's stock valued at $572,000 after acquiring an additional 401 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Varonis Systems Stock Down 0.5 %

Shares of VRNS traded down $0.26 during trading hours on Friday, reaching $49.94. 1,034,868 shares of the stock traded hands, compared to its average volume of 1,357,382. Varonis Systems, Inc. has a 52 week low of $39.56 and a 52 week high of $60.58. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $55.06 and a 200 day simple moving average of $50.77.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to analysts' expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) EPS. As a group, research analysts expect that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other Varonis Systems news, Vice Chairman James O'boyle sold 50,000 shares of Varonis Systems stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the sale, the insider now owns 444,114 shares of the company's stock, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on VRNS. TD Cowen lifted their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Truist Financial reaffirmed a "buy" rating and issued a $60.00 target price (up from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. Wedbush reiterated an "outperform" rating and issued a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th. Susquehanna raised their price objective on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.67.

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.