492,006 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 492,006 shares of the technology company's stock, valued at approximately $21,860,000. Raymond James Financial Inc. owned 0.44% of Varonis Systems as of its most recent filing with the SEC.

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

Varonis Systems Trading Up 2.5 %

Shares of NASDAQ:VRNS traded up $1.02 during midday trading on Wednesday, hitting $41.37. 676,006 shares of the stock traded hands, compared to its average volume of 1,510,485. 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 two-hundred day moving average is $46.41. The stock has a market capitalization of $4.66 billion, a PE ratio of -48.10 and a beta of 0.76. 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 released its quarterly earnings results 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 net margin of 17.38% and a negative return on equity of 20.35%. As a group, research analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VRNS shares. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a research report on Friday, March 28th. Needham & Company LLC restated a "buy" rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Citigroup lowered their price target on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. Morgan Stanley decreased their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group lowered their target price on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. One investment 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.11.

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.