Versor Investments LP Takes $551,000 Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Versor Investments LP bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,400 shares of the technology company’s stock, valued at approximately $551,000.

Several other hedge funds and other institutional investors have also modified their holdings of VRNS. Assenagon Asset Management S.A. lifted its position in Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after acquiring an additional 995,274 shares during the last quarter. WCM Investment Management LLC bought a new position in shares of Varonis Systems during the third quarter worth approximately $17,419,000. Two Sigma Advisers LP lifted its holdings in Varonis Systems by 46.7% during the 3rd quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock worth $47,415,000 after purchasing an additional 267,000 shares during the last quarter. Thematics Asset Management boosted its stake in Varonis Systems by 40.2% in the 3rd quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock valued at $29,945,000 after purchasing an additional 152,000 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in 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. Institutional investors own 95.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VRNS. Wells Fargo & Company dropped their target price 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. DA Davidson dropped 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. Jefferies Financial Group decreased their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Price Performance

Shares of VRNS stock opened at $42.97 on Friday. The business has a fifty day simple moving average of $44.19 and a 200 day simple moving average of $50.31. The company has a market cap of $4.84 billion, a P/E ratio of -49.96 and a beta of 0.83. 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 $39.62 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) 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 forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has authorized a share repurchase program on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Varonis Systems Company 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.