Versor Investments LP bought a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,400 shares of the technology company's stock, valued at approximately $551,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after purchasing an additional 423 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of 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 buying an additional 603 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock valued at $140,000 after buying an additional 2,442 shares in the last quarter. KBC Group NV boosted its stake in shares of 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 buying an additional 663 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems in the third quarter valued at approximately $184,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.
Varonis Systems Stock Performance
Varonis Systems stock traded up $0.31 during mid-day trading on Wednesday, hitting $41.91. 1,627,854 shares of the company's stock traded hands, compared to its average volume of 1,386,801. The firm has a 50 day moving average price of $43.98 and a 200 day moving average price of $50.03. 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 company has a market cap of $4.72 billion, a PE ratio of -48.73 and a beta of 0.83. Varonis Systems, Inc. has a one year low of $39.34 and a one year high of $60.58.
Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its 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%. On average, equities analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.
Varonis Systems announced that its board has approved a share buyback program on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
VRNS has been the topic of a number of analyst reports. Piper Sandler decreased their price target on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group decreased their price target on Varonis Systems from $60.00 to $50.00 and set a "hold" rating on the stock in a research note on Thursday, December 19th. Citigroup decreased their price target on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday, January 17th. Needham & Company LLC reiterated a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company cut their price target on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.38.
Read Our Latest Stock Analysis on Varonis Systems
About Varonis Systems
(
Free Report)
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.
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