Loomis Sayles & Co. L P Trims Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Loomis Sayles & Co. L P reduced its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,221,877 shares of the technology company's stock after selling 35,703 shares during the quarter. Loomis Sayles & Co. L P owned about 1.09% of Varonis Systems worth $54,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. raised its holdings in Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after purchasing an additional 603 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Varonis Systems during the third quarter worth $184,000. R Squared Ltd acquired a new position in Varonis Systems in the fourth quarter valued at $194,000. KBC Group NV boosted its position in Varonis Systems by 45.6% during the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company's stock valued at $211,000 after acquiring an additional 1,488 shares during the last quarter. Finally, Atom Investors LP acquired a new stake in Varonis Systems during the 3rd quarter worth about $224,000. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Stock Performance

Varonis Systems stock traded up $0.65 during mid-day trading on Tuesday, reaching $41.10. 217,623 shares of the company's stock were exchanged, compared to its average volume of 1,469,210. The business's fifty day simple moving average is $42.64 and its 200 day simple moving average is $48.22. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a one year low of $39.11 and a one year high of $60.58. The firm has a market capitalization of $4.63 billion, a PE ratio of -47.70 and a beta of 0.85.

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Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.35% and a negative net margin of 17.38%. On average, sell-side analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VRNS. Wolfe Research raised Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Friday. Wells Fargo & Company cut their price target on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. DA Davidson lowered their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, December 12th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an "overweight" rating and a $60.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of "Moderate Buy" and an average 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.