Intech Investment Management LLC Purchases New Shares in Varonis Systems, Inc. (NASDAQ:VRNS)

Intech Investment Management LLC acquired a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,884 shares of the technology company's stock, valued at approximately $1,801,000.

Several other hedge funds also recently modified their holdings of VRNS. WCM Investment Management LLC acquired a new position in shares of Varonis Systems during the third quarter worth approximately $17,419,000. Squarepoint Ops LLC lifted its holdings in Varonis Systems by 167.9% during the 2nd quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company's stock worth $21,755,000 after buying an additional 284,236 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Varonis Systems by 40.0% during the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company's stock worth $38,361,000 after acquiring an additional 228,589 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in 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 valued at $100,789,000 after acquiring an additional 147,081 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Varonis Systems by 4.6% in the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company's stock worth $137,885,000 after purchasing an additional 127,129 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on VRNS. Needham & Company LLC restated a "hold" rating on shares of Varonis Systems in a report on Tuesday, July 30th. Robert W. Baird lifted their price objective on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. UBS Group increased their target price on Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada restated an "outperform" rating and set a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. Finally, Susquehanna increased their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $59.67.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Vice Chairman James O'boyle sold 50,000 shares of Varonis Systems stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares of the company's stock, valued at $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the 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 directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Varonis Systems Stock Down 0.4 %

Shares of VRNS stock traded down $0.20 during trading on Tuesday, reaching $49.91. The company's stock had a trading volume of 1,494,909 shares, compared to its average volume of 1,366,175. Varonis Systems, Inc. has a one year low of $39.67 and a one year high of $60.58. The business has a fifty day moving average price of $54.91 and a 200-day moving average price of $50.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. The company had revenue of $148.07 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted ($0.22) EPS. Analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current year.

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.