Varonis Systems, Inc. (NASDAQ:VRNS) Stock Position Lifted by William Blair Investment Management LLC

William Blair Investment Management LLC increased its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,290,114 shares of the technology company's stock after buying an additional 52,971 shares during the period. William Blair Investment Management LLC owned about 2.04% of Varonis Systems worth $101,750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. raised its holdings in 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. Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems in the third quarter valued at $184,000. KBC Group NV increased its stake in 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 purchasing an additional 663 shares during the last quarter. R Squared Ltd purchased a new position in Varonis Systems during the fourth quarter worth about $194,000. Finally, Atom Investors LP acquired a new stake in Varonis Systems in the 3rd quarter worth about $224,000. Hedge funds and other institutional investors own 95.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VRNS shares. StockNews.com upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Piper Sandler cut their price target on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Citigroup lowered their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. DA Davidson cut their target price on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald began coverage on Varonis Systems in a research report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus price target of $59.38.

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Varonis Systems Stock Down 1.3 %

Shares of Varonis Systems stock traded down $0.54 during trading hours on Friday, hitting $41.00. 2,415,145 shares of the company's stock traded hands, compared to its average volume of 1,404,212. 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 twelve month low of $39.11 and a twelve month high of $60.58. The stock has a 50 day simple moving average of $43.13 and a 200-day simple moving average of $48.85. The company has a market cap of $4.61 billion, a PE ratio of -47.67 and a beta of 0.85.

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 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%. Equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its board has authorized a stock buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

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.