Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Varonis Systems, Inc. $VRNS

Key Points

• Connor Clark & Lunn Investment Management acquired 565,087 shares of Varonis Systems worth approximately $23.7 million, giving it a 0.49% stake. Institutional investors and hedge funds collectively own 95.65% of the company.
• Analyst sentiment is generally positive, with 17 Buy ratings, six Holds and one Sell. Varonis has a “Moderate Buy” consensus rating and an average price target of $49.05.
• Varonis exceeded quarterly expectations, reporting $0.04 in EPS versus the $0.01 consensus and $180.02 million in revenue, up 18.3% year over year. Despite the strong results, the company remains unprofitable, with a negative net margin of 20.55%.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 565,087 shares of the technology company's stock, valued at approximately $23,711,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.49% of Varonis Systems at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VRNS. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Varonis Systems in the 1st quarter valued at approximately $233,000. Caxton Associates LLP bought a new stake in shares of Varonis Systems during the first quarter worth approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Varonis Systems by 11.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 619,257 shares of the technology company's stock valued at $25,049,000 after buying an additional 64,636 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Varonis Systems by 2.8% in the second quarter. Russell Investments Group Ltd. now owns 22,811 shares of the technology company's stock valued at $1,158,000 after acquiring an additional 628 shares in the last quarter. Finally, Invesco Ltd. increased its position in Varonis Systems by 8.6% during the second quarter. Invesco Ltd. now owns 96,536 shares of the technology company's stock worth $4,899,000 after acquiring an additional 7,618 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on VRNS. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 price target (up from $35.00) on shares of Varonis Systems in a research report on Friday, July 24th. KeyCorp started coverage on Varonis Systems in a research note on Tuesday, May 26th. They set a "sector weight" rating on the stock. Piper Sandler lifted their price objective on Varonis Systems from $47.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Rosenblatt Securities reiterated a "buy" rating and set a $55.00 target price on shares of Varonis Systems in a research report on Wednesday, July 29th. Finally, B. Riley Financial increased their target price on Varonis Systems from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus price target of $49.05.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $41.05 on Tuesday. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -33.37 and a beta of 0.83. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.02. The business's 50-day moving average price is $42.29 and its 200-day moving average price is $31.78. Varonis Systems, Inc. has a 12 month low of $19.70 and a 12 month high of $63.90.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The technology company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.03. Varonis Systems had a negative net margin of 20.55% and a negative return on equity of 19.18%. The company had revenue of $180.02 million for the quarter, compared to analyst estimates of $176.83 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Varonis Systems's revenue was up 18.3% compared to the same quarter last year. Varonis Systems has set its FY 2026 guidance at 0.140-0.150 EPS and its Q3 2026 guidance at 0.020-0.030 EPS. Equities research analysts forecast that Varonis Systems, Inc. will post -0.97 EPS for the current year.

Varonis Systems Profile

Varonis Systems is a cybersecurity firm specializing in the protection and management of unstructured data. The company's flagship Data Security Platform provides advanced analytics for monitoring file systems, email servers, collaboration platforms and cloud storage. By continuously mapping and analyzing data permissions and user behavior, Varonis enables organizations to detect insider threats, verify compliance and remediate exposed data in real time.

Founded in 2005 and headquartered in New York City, Varonis serves a diverse global customer base across financial services, healthcare, media, manufacturing and government.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source