Algert Global LLC Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Algert Global LLC acquired a new position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 35,448 shares of the technology company's stock, valued at approximately $1,575,000.

Several other institutional investors and hedge funds also recently bought and sold shares of VRNS. William Blair Investment Management LLC boosted its holdings in Varonis Systems by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock valued at $101,750,000 after purchasing an additional 52,971 shares during the period. Barclays PLC lifted its holdings in shares of Varonis Systems by 10.0% during the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company's stock worth $22,007,000 after acquiring an additional 35,274 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its holdings in shares of Varonis Systems by 30.1% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company's stock worth $4,038,000 after acquiring an additional 21,040 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Varonis Systems by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock worth $100,789,000 after acquiring an additional 147,081 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Varonis Systems by 761.6% during the 4th 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. 95.65% of the stock is owned by institutional investors.

Varonis Systems Trading Up 0.1%

VRNS traded up $0.04 on Tuesday, reaching $45.88. 1,611,826 shares of the company traded hands, compared to its average volume of 1,530,819. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58. The firm has a fifty day simple moving average of $41.43 and a two-hundred day simple moving average of $44.89. The company has a market cap of $5.14 billion, a P/E ratio of -53.35 and a beta of 0.79. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The firm had revenue of $136.42 million during the quarter, compared to analysts' expectations of $133.10 million. During the same period in the previous year, the firm earned ($0.03) EPS. The firm's quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on VRNS. Royal Bank of Canada lifted their price objective on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company decreased their target price on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Barclays decreased their target price on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Citigroup decreased their target price on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems has a consensus rating of "Moderate Buy" and a consensus target price of $55.06.

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.