Sei Investments Co. Has $9.66 Million Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Sei Investments Co. increased its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,516 shares of the technology company's stock after purchasing an additional 24,949 shares during the quarter. Sei Investments Co. owned approximately 0.19% of Varonis Systems worth $9,664,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Varonis Systems by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company's stock valued at $54,405,000 after acquiring an additional 59,218 shares during the period. Citigroup Inc. raised its stake in Varonis Systems by 88.4% during the 3rd quarter. Citigroup Inc. now owns 105,429 shares of the technology company's stock valued at $5,957,000 after purchasing an additional 49,472 shares during the period. Cerity Partners LLC raised its stake in Varonis Systems by 57.9% during the 3rd quarter. Cerity Partners LLC now owns 10,220 shares of the technology company's stock valued at $577,000 after purchasing an additional 3,747 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Varonis Systems by 31.7% in the third quarter. BNP Paribas Financial Markets now owns 81,191 shares of the technology company's stock valued at $4,587,000 after purchasing an additional 19,561 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Varonis Systems by 11.3% in the third quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company's stock worth $467,000 after buying an additional 837 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

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Varonis Systems Stock Performance

VRNS traded down $0.97 during trading on Thursday, hitting $40.59. The stock had a trading volume of 216,625 shares, compared to its average volume of 1,471,343. Varonis Systems, Inc. has a 12 month low of $39.10 and a 12 month high of $60.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.57 billion, a PE ratio of -47.01 and a beta of 0.76. The company has a 50 day simple moving average of $42.48 and a 200-day simple moving average of $48.08.

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

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

Analyst Ratings Changes

Several brokerages recently issued reports on VRNS. DA Davidson reduced their price objective on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, December 12th. Jefferies Financial Group reduced their price target on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. Cantor Fitzgerald started coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on shares of Varonis Systems in a report on Tuesday, March 18th. They set an "overweight" rating on the stock. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.53.

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.