First Trust Advisors LP Has $111.15 Million Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

First Trust Advisors LP increased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,501,581 shares of the technology company's stock after buying an additional 113,573 shares during the period. First Trust Advisors LP owned 2.22% of Varonis Systems worth $111,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Varonis Systems by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock valued at $544,124,000 after acquiring an additional 193,210 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Varonis Systems by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock valued at $101,750,000 after buying an additional 52,971 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Varonis Systems by 1.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company's stock worth $101,636,000 after acquiring an additional 29,852 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock worth $100,789,000 after acquiring an additional 147,081 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Varonis Systems during the fourth quarter worth about $56,561,000. 95.65% of the stock is owned by institutional investors.

Varonis Systems Stock Performance

Shares of Varonis Systems stock traded up $0.63 on Friday, hitting $42.28. The stock had a trading volume of 1,070,313 shares, compared to its average volume of 1,520,155. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of -49.16 and a beta of 0.76. The business's 50 day moving average is $41.13 and its two-hundred day moving average is $46.19. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data 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%. Analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its Board of Directors has approved a stock buyback program on Monday, February 10th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

VRNS has been the topic of a number of research reports. Wells Fargo & Company cut their price target on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Cantor Fitzgerald began coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price target on the stock. Morgan Stanley reduced their price objective on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group cut their target price on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, Citigroup lowered their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $57.11.

Varonis Systems 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.