Man Group plc Increases Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Man Group plc lifted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 128.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 352,629 shares of the technology company's stock after acquiring an additional 198,001 shares during the quarter. Man Group plc owned approximately 0.31% of Varonis Systems worth $15,667,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings 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 worth $22,007,000 after acquiring an additional 35,274 shares during the period. Franklin Resources Inc. lifted its holdings in Varonis Systems by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company's stock worth $2,383,000 after purchasing an additional 5,031 shares in the last quarter. Oak Ridge Investments LLC purchased a new position in Varonis Systems during the 4th quarter valued at about $1,398,000. AMI Asset Management Corp increased its position in shares of Varonis Systems by 91.7% during the fourth quarter. AMI Asset Management Corp now owns 16,456 shares of the technology company's stock valued at $731,000 after buying an additional 7,872 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Varonis Systems by 301.4% during the fourth quarter. SG Americas Securities LLC now owns 20,116 shares of the technology company's stock valued at $894,000 after buying an additional 15,104 shares during the period. Hedge funds and other institutional investors own 95.65% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on VRNS shares. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research note on Friday, March 28th. UBS Group boosted their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley decreased their price target on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group reduced their target price on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus target price of $55.06.

Varonis Systems Trading Down 0.5%

NASDAQ:VRNS traded down $0.22 during trading hours on Wednesday, reaching $46.31. The company's stock had a trading volume of 1,032,033 shares, compared to its average volume of 1,534,764. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of -53.85 and a beta of 0.79. The firm has a 50-day simple moving average of $42.27 and a 200-day simple moving average of $44.64. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its 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 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% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) earnings per share. Research analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has authorized a share repurchase program on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 2.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

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.