WCM Investment Management LLC Invests $17.42 Million in Varonis Systems, Inc. (NASDAQ:VRNS)

WCM Investment Management LLC acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 309,790 shares of the technology company's stock, valued at approximately $17,419,000. WCM Investment Management LLC owned 0.28% of Varonis Systems at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC increased its holdings in shares of Varonis Systems by 17.0% during the third quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company's stock valued at $4,198,000 after purchasing an additional 10,820 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Varonis Systems in the 3rd quarter valued at $1,045,000. Assetmark Inc. raised its position in shares of Varonis Systems by 31.0% in the third quarter. Assetmark Inc. now owns 5,814 shares of the technology company's stock valued at $328,000 after purchasing an additional 1,375 shares during the period. Olympiad Research LP acquired a new position in Varonis Systems during the 3rd quarter valued at $457,000. Finally, Principal Financial Group Inc. raised its stake in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after buying an additional 147,081 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

Varonis Systems Stock Performance

NASDAQ:VRNS traded down $0.20 during mid-day trading on Tuesday, reaching $52.27. 848,673 shares of the stock were exchanged, compared to its average volume of 1,343,992. The company has a 50 day simple moving average of $55.30 and a 200-day simple moving average of $50.48. Varonis Systems, Inc. has a 1 year low of $34.95 and a 1 year high of $60.58. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $5.88 billion, a P/E ratio of -69.64 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. During the same quarter last year, the business posted ($0.22) earnings per share. Varonis Systems's revenue was up 21.1% compared to the same quarter last year. Analysts anticipate that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. TD Cowen upped their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Susquehanna raised their price target on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a research report on Tuesday, July 30th. Baird R W raised shares of Varonis Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 30th. Wells Fargo & Company raised their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 30th. Finally, Barclays lifted their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus target price of $58.75.

Insider Buying and Selling

In related news, Vice Chairman James O'boyle sold 50,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the sale, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company's stock.

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.