William Blair Investment Management LLC Purchases 52,971 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

William Blair Investment Management LLC boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,290,114 shares of the technology company’s stock after purchasing 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.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems in the 3rd quarter worth about $184,000. KBC Group NV grew its position in Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after purchasing an additional 663 shares in the last quarter. R Squared Ltd bought a new stake in Varonis Systems in the 4th quarter worth about $194,000. Finally, Atom Investors LP bought a new stake in Varonis Systems in the 3rd quarter worth about $224,000. 95.65% of the stock is owned by institutional investors.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $41.45 on Tuesday. Varonis Systems, Inc. has a 1 year low of $39.11 and a 1 year high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $4.67 billion, a PE ratio of -48.20 and a beta of 0.85. The company’s 50 day simple moving average is $43.28 and its two-hundred day simple moving average is $49.05.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results 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%. Analysts predict 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 plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Citigroup reduced their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price for the company. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Jefferies Financial Group reduced their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems presently has an average rating of “Moderate Buy” and an average target price of $59.38.

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.