Varonis Systems, Inc. (NASDAQ:VRNS) Stake Boosted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,287,544 shares of the technology company's stock after buying an additional 29,852 shares during the period. Pictet Asset Management Holding SA owned about 2.03% of Varonis Systems worth $101,636,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Virtue Capital Management LLC lifted its holdings in shares of Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock valued at $919,000 after purchasing an additional 364 shares in the last quarter. Bailard Inc. lifted its stake in Varonis Systems by 0.4% in the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock valued at $4,160,000 after buying an additional 417 shares in the last quarter. Arizona State Retirement System grew its holdings in Varonis Systems by 1.3% during the 4th quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock valued at $1,445,000 after buying an additional 425 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Varonis Systems by 0.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company's stock worth $3,352,000 after buying an additional 600 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after acquiring an additional 603 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

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Varonis Systems Stock Up 2.0 %

VRNS traded up $0.84 during trading on Wednesday, hitting $41.74. The company had a trading volume of 718,353 shares, compared to its average volume of 1,471,262. Varonis Systems, Inc. has a 1-year low of $39.11 and a 1-year high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $4.70 billion, a PE ratio of -48.53 and a beta of 0.85. The business has a 50-day moving average of $42.55 and a 200-day moving average of $48.13.

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

Varonis Systems announced that its Board of Directors has authorized a share 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 repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on VRNS. Wells Fargo & Company decreased their price objective on 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. Wolfe Research raised 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. Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. Citigroup decreased their target price on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Finally, DA Davidson dropped their price target on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.53.

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.