Nuveen Asset Management LLC Lowers Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Nuveen Asset Management LLC decreased its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 518,267 shares of the technology company's stock after selling 80,972 shares during the period. Nuveen Asset Management LLC owned 0.46% of Varonis Systems worth $23,027,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Occudo Quantitative Strategies LP grew its holdings in Varonis Systems by 5.2% in the 4th quarter. Occudo Quantitative Strategies LP now owns 10,871 shares of the technology company's stock valued at $483,000 after buying an additional 540 shares during the last quarter. Graham Capital Management L.P. grew its holdings in Varonis Systems by 207.3% in the 4th quarter. Graham Capital Management L.P. now owns 31,894 shares of the technology company's stock valued at $1,417,000 after buying an additional 21,514 shares during the last quarter. G2 Investment Partners Management LLC grew its holdings in Varonis Systems by 12.0% in the 4th quarter. G2 Investment Partners Management LLC now owns 168,950 shares of the technology company's stock valued at $7,506,000 after buying an additional 18,088 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Varonis Systems by 11.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 51,230 shares of the technology company's stock valued at $2,276,000 after buying an additional 5,419 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Varonis Systems by 97.7% in the 4th quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock valued at $59,467,000 after buying an additional 661,436 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

Varonis Systems Price Performance

NASDAQ VRNS traded down $0.21 on Wednesday, hitting $47.33. 468,941 shares of the company's stock were exchanged, compared to its average volume of 1,530,311. The stock has a 50-day moving average of $42.69 and a 200-day moving average of $44.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of -54.85 and a beta of 0.79.

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 for the quarter, missing the consensus estimate 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 business had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. During the same period in the prior year, the firm earned ($0.03) EPS. The business's revenue for the quarter was up 19.6% compared to the same quarter last year. Analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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

Analyst Ratings Changes

Several analysts have recently weighed in on VRNS shares. Morgan Stanley decreased their price objective on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. UBS Group lifted their price objective on Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a research note on Wednesday, May 7th. Royal Bank of Canada boosted their price target on Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Varonis Systems has a consensus rating of "Moderate Buy" and an average 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.