Invesco Ltd. Has $33.57 Million Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Invesco Ltd. trimmed its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 67.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 755,541 shares of the technology company's stock after selling 1,536,484 shares during the period. Invesco Ltd. owned approximately 0.67% of Varonis Systems worth $33,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Varonis Systems during the fourth quarter worth about $56,561,000. Groupama Asset Managment bought a new stake in Varonis Systems during the 4th quarter worth approximately $55,538,000. Assenagon Asset Management S.A. raised its holdings in Varonis Systems by 761.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company's stock worth $50,026,000 after buying an additional 995,274 shares during the period. Bank of Montreal Can raised its holdings in Varonis Systems by 114.1% during the 4th quarter. Bank of Montreal Can now owns 979,769 shares of the technology company's stock worth $43,531,000 after buying an additional 522,075 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Varonis Systems in the fourth quarter valued at approximately $21,860,000. Institutional investors own 95.65% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VRNS shares. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Friday, March 28th. StockNews.com cut Varonis Systems from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Wells Fargo & Company cut their price target on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Cantor Fitzgerald began coverage on Varonis Systems in a report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price objective for the company. Finally, Barclays dropped their target price on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.11.

Varonis Systems Price Performance

Shares of VRNS stock traded up $1.57 on Wednesday, reaching $41.92. The company had a trading volume of 158,049 shares, compared to its average volume of 1,507,915. The stock has a market capitalization of $4.72 billion, a PE ratio of -48.74 and a beta of 0.76. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The business's 50-day moving average is $41.27 and its 200 day moving average is $46.41. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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%. Equities research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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

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.