Ameriprise Financial Inc. Has $86.81 Million Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Ameriprise Financial Inc. grew its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,953,810 shares of the technology company's stock after buying an additional 431,306 shares during the period. Ameriprise Financial Inc. owned 1.74% of Varonis Systems worth $86,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in VRNS. Freestone Grove Partners LP bought a new stake in Varonis Systems during the 4th quarter valued at $482,000. Connors Investor Services Inc. raised its stake in shares of Varonis Systems by 64.6% during the fourth quarter. Connors Investor Services Inc. now owns 58,896 shares of the technology company's stock valued at $2,617,000 after purchasing an additional 23,125 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Varonis Systems by 176.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 168,880 shares of the technology company's stock worth $7,503,000 after purchasing an additional 107,825 shares during the period. AQR Capital Management LLC lifted its holdings in Varonis Systems by 30.0% in the fourth quarter. AQR Capital Management LLC now owns 290,839 shares of the technology company's stock worth $12,922,000 after purchasing an additional 67,127 shares during the period. Finally, Northern Trust Corp increased its stake in Varonis Systems by 8.2% during the 4th quarter. Northern Trust Corp now owns 1,122,939 shares of the technology company's stock valued at $49,892,000 after buying an additional 84,796 shares during the period. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Stock Down 0.4 %

VRNS traded down $0.18 during trading on Friday, reaching $45.30. 1,370,252 shares of the stock traded hands, compared to its average volume of 1,527,867. The stock's 50-day simple moving average is $41.35 and its two-hundred day simple moving average is $45.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of -52.67 and a beta of 0.79.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The firm had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The company's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, equities research analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

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

Analysts Set New Price Targets

VRNS has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, January 17th. Morgan Stanley decreased their price target on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Barclays cut their price objective on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, April 14th. StockNews.com raised Varonis Systems from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Finally, Royal Bank of Canada upped their price target on shares of Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

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.