Swiss National Bank Acquires 2,900 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Swiss National Bank increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,654 shares of the technology company’s stock after purchasing an additional 2,900 shares during the quarter. Swiss National Bank owned approximately 0.20% of Varonis Systems worth $9,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Varonis Systems by 28.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 323,217 shares of the technology company’s stock worth $14,361,000 after purchasing an additional 71,701 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Varonis Systems in the fourth quarter worth about $365,000. Wealthfront Advisers LLC bought a new stake in Varonis Systems during the 4th quarter valued at approximately $17,088,000. Inspire Advisors LLC bought a new stake in Varonis Systems during the 4th quarter valued at approximately $1,866,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Varonis Systems by 2.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,458 shares of the technology company’s stock valued at $2,553,000 after acquiring an additional 1,370 shares in the last quarter. 95.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on VRNS. Morgan Stanley began coverage on Varonis Systems in a research report on Tuesday. They set an “overweight” rating on the stock. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. DA Davidson cut their price objective 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, Jefferies Financial Group cut their price objective on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $41.00 on Friday. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58. The firm has a market cap of $4.61 billion, a P/E ratio of -47.67 and a beta of 0.85. The company has a 50 day moving average of $43.05 and a 200 day moving average of $48.74. 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 (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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%. As a group, research analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has authorized a share repurchase program on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.