Charles Schwab Investment Management Inc. Raises Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Charles Schwab Investment Management Inc. increased its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 971,844 shares of the technology company's stock after purchasing an additional 8,921 shares during the period. Charles Schwab Investment Management Inc. owned 0.86% of Varonis Systems worth $43,179,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after acquiring an additional 423 shares during the last quarter. Pacer Advisors Inc. lifted its position in Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after acquiring an additional 603 shares during the last quarter. KBC Group NV lifted its position in Varonis Systems by 25.5% in the third quarter. KBC Group NV now owns 3,263 shares of the technology company's stock valued at $184,000 after acquiring an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Varonis Systems in the third quarter valued at $184,000. Finally, R Squared Ltd purchased a new stake in Varonis Systems in the fourth quarter valued at $194,000. Institutional investors and hedge funds own 95.65% of the company's stock.

Varonis Systems Stock Performance

NASDAQ:VRNS traded up $0.06 during mid-day trading on Tuesday, reaching $41.51. The stock had a trading volume of 1,507,099 shares, compared to its average volume of 1,399,531. Varonis Systems, Inc. has a twelve month low of $38.85 and a twelve month 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 firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of -48.27 and a beta of 0.85. The business has a 50 day simple moving average of $43.28 and a 200 day simple moving average of $49.05.

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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 (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%. On average, analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VRNS shares. Morgan Stanley began coverage on shares of Varonis Systems in a research report on Tuesday. They issued an "overweight" rating for the company. Jefferies Financial Group reduced their target price on shares of Varonis Systems from $60.00 to $50.00 and set a "hold" rating for the company in a report on Thursday, December 19th. StockNews.com raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. DA Davidson reduced their target price on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, December 12th. Finally, Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

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.