WCM Investment Management LLC Boosts Position in Varonis Systems, Inc. (NASDAQ:VRNS)

WCM Investment Management LLC boosted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 30.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 405,321 shares of the technology company's stock after acquiring an additional 95,531 shares during the quarter. WCM Investment Management LLC owned 0.36% of Varonis Systems worth $17,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRNS. Creative Planning boosted its stake in shares of Varonis Systems by 66.4% in the 3rd quarter. Creative Planning now owns 24,265 shares of the technology company's stock valued at $1,371,000 after buying an additional 9,681 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Varonis Systems by 226.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company's stock valued at $1,164,000 after buying an additional 14,295 shares during the period. nVerses Capital LLC purchased a new position in shares of Varonis Systems in the 3rd quarter valued at about $446,000. Compass Wealth Management LLC boosted its stake in shares of Varonis Systems by 26.6% in the 3rd quarter. Compass Wealth Management LLC now owns 75,693 shares of the technology company's stock valued at $4,277,000 after buying an additional 15,900 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Varonis Systems by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company's stock valued at $19,802,000 after buying an additional 44,826 shares during the period. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VRNS shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. Piper Sandler decreased their target price on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company decreased their target price on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Jefferies Financial Group cut their price target on Varonis Systems from $60.00 to $50.00 and set a "hold" rating on the stock in a research report on Thursday, December 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.38.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS traded up $0.55 during trading on Thursday, reaching $43.72. The company had a trading volume of 1,205,363 shares, compared to its average volume of 2,081,788. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of -50.84 and a beta of 0.83. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The stock's fifty day moving average price is $45.23 and its 200 day moving average price is $51.12. Varonis Systems, Inc. has a fifty-two week low of $39.62 and a fifty-two week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.45% and a negative net margin of 17.38%. As a group, equities research analysts predict that Varonis Systems, Inc. will post -0.74 EPS for the current year.

Varonis Systems declared 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 buy up to 2.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.