Wellington Management Group LLP Lowers Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Wellington Management Group LLP lowered its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 23.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,557 shares of the technology company's stock after selling 103,011 shares during the quarter. Wellington Management Group LLP owned approximately 0.30% of Varonis Systems worth $15,131,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Virtue Capital Management LLC increased its holdings in shares of Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock worth $919,000 after purchasing an additional 364 shares during the last quarter. Bailard Inc. increased its position in Varonis Systems by 0.4% in the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock worth $4,160,000 after purchasing an additional 417 shares during the last quarter. Arizona State Retirement System lifted its position in Varonis Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock valued at $1,445,000 after purchasing an additional 425 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Varonis Systems by 0.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company's stock worth $3,352,000 after buying an additional 600 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Varonis Systems by 29.5% in the 4th 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. 95.65% of the stock is owned by hedge funds and other institutional investors.

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Varonis Systems Stock Up 0.4 %

VRNS traded up $0.17 on Monday, reaching $41.47. The company's stock had a trading volume of 36,491 shares, compared to its average volume of 1,742,739. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of -48.24 and a beta of 0.76. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. 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 stock has a 50 day moving average of $41.51 and a two-hundred day moving average of $47.09.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has initiated a stock 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 repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

VRNS has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on Varonis Systems in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. Needham & Company LLC reissued a "buy" rating and issued a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. Jefferies Financial Group decreased their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Cantor Fitzgerald began coverage on shares of Varonis Systems in a report on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price target on the stock. Finally, Citigroup lowered their target price on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus price target of $58.53.

Varonis Systems 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.