111 Capital Purchases Shares of 5,883 Varonis Systems, Inc. (NASDAQ:VRNS)

111 Capital bought a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,883 shares of the technology company's stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC increased its stake in shares of Varonis Systems by 10.0% in the third quarter. Barclays PLC now owns 389,522 shares of the technology company's stock valued at $22,007,000 after buying an additional 35,274 shares during the period. KBC Group NV boosted its holdings in Varonis Systems by 45.6% in the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company's stock valued at $211,000 after acquiring an additional 1,488 shares during the last quarter. Pacer Advisors Inc. increased its position in Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after purchasing an additional 603 shares during the period. E. Ohman J or Asset Management AB raised its holdings in Varonis Systems by 8.6% during the 4th quarter. E. Ohman J or Asset Management AB now owns 31,700 shares of the technology company's stock worth $1,408,000 after purchasing an additional 2,500 shares during the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of Varonis Systems by 30.8% in the 4th quarter. WCM Investment Management LLC now owns 405,321 shares of the technology company's stock worth $17,798,000 after purchasing an additional 95,531 shares during the period. Institutional investors own 95.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price target 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. Barclays decreased their target price on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group decreased their target price on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Wolfe Research raised Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Friday, March 28th. Finally, Wall Street Zen raised Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Trading Up 0.4%

NASDAQ VRNS traded up $0.18 during trading hours on Wednesday, hitting $49.96. 1,543,530 shares of the company were exchanged, compared to its average volume of 1,538,947. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. The stock has a 50-day moving average price of $43.36 and a 200 day moving average price of $44.30. The stock has a market cap of $5.59 billion, a PE ratio of -58.09 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 posted its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). The company had revenue of $136.42 million for the quarter, compared to analysts' expectations of $133.10 million. Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The firm's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS. Analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its Board of Directors has initiated a share repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Den Bosch Fred Van sold 6,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the director now directly owns 131,666 shares of the company's stock, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

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.