Two Sigma Advisers LP Raises Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Two Sigma Advisers LP lifted its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 64.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,380,200 shares of the technology company's stock after purchasing an additional 541,000 shares during the period. Two Sigma Advisers LP owned about 1.23% of Varonis Systems worth $61,322,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VRNS. Quarry LP bought a new position in Varonis Systems during the 4th quarter worth about $36,000. Johnson Financial Group Inc. bought a new position in Varonis Systems during the 4th quarter worth about $61,000. Transce3nd LLC bought a new position in Varonis Systems during the 4th quarter worth about $62,000. New Age Alpha Advisors LLC bought a new position in Varonis Systems during the 4th quarter worth about $70,000. Finally, Pacer Advisors Inc. grew its holdings in Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after acquiring an additional 603 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VRNS. JPMorgan Chase & Co. lowered their price target on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Royal Bank of Canada raised 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, May 7th. Finally, Wells Fargo & Company lowered their target price on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Six equities research 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 company. Based on data from MarketBeat.com, Varonis Systems has a consensus rating of "Moderate Buy" and an average price target of $55.06.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS traded up $0.06 during trading on Friday, hitting $46.82. 705,411 shares of the stock traded hands, compared to its average volume of 1,534,887. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a market cap of $5.24 billion, a price-to-earnings ratio of -54.44 and a beta of 0.79. The company has a fifty day moving average price of $42.48 and a two-hundred day moving average price of $44.52. Varonis Systems, Inc. has a 52-week low of $36.53 and a 52-week high of $60.58.

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 the consensus estimate of ($0.05) by ($0.26). The firm had revenue of $136.42 million for the quarter, compared to analysts' expectations of $133.10 million. Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. Varonis Systems's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) earnings per share. As a group, equities analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

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

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.