Proficio Capital Partners LLC acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,216 shares of the technology company's stock, valued at approximately $898,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Virtue Capital Management LLC boosted its stake in shares of Varonis Systems by 2.3% in the 3rd 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. boosted its position in Varonis Systems by 0.4% in the fourth 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. Pacer Advisors Inc. grew its stake in shares of Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after buying an additional 603 shares during the last quarter. Keybank National Association OH increased its holdings in shares of Varonis Systems by 6.7% during the fourth quarter. Keybank National Association OH now owns 10,184 shares of the technology company's stock worth $452,000 after buying an additional 639 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Varonis Systems by 11.3% in the 3rd quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company's stock valued at $467,000 after acquiring an additional 837 shares during the last quarter. Institutional investors own 95.65% of the company's stock.
Varonis Systems Stock Up 1.6 %
VRNS traded up $0.66 during midday trading on Tuesday, reaching $42.04. 1,835,102 shares of the company were exchanged, compared to its average volume of 1,407,297. Varonis Systems, Inc. has a one year low of $39.11 and a one year high of $60.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The company's fifty day moving average price is $42.99 and its 200 day moving average price is $48.57. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -48.88 and a beta of 0.85.
Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (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 expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.
Varonis Systems declared that its board has authorized a stock repurchase program on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
VRNS has been the topic of a number of research reports. Piper Sandler reduced their price objective on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. 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 objective for the company. DA Davidson reduced their target price on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a report on Thursday, December 12th. StockNews.com upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, Jefferies Financial Group reduced their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a "hold" rating on the stock in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.38.
Read Our Latest Research Report on Varonis Systems
Varonis Systems Company Profile
(
Free Report)
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.
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