UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 554,621 shares of the technology company's stock after selling 6,827 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.49% of Varonis Systems worth $24,642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in Varonis Systems during the 4th quarter worth $36,000. Johnson Financial Group Inc. acquired a new position in Varonis Systems during the 4th quarter worth $61,000. Transce3nd LLC acquired a new position in Varonis Systems during the 4th quarter worth $62,000. New Age Alpha Advisors LLC acquired a new position in Varonis Systems during the 4th quarter worth $70,000. Finally, Pacer Advisors Inc. grew its stake 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 purchasing an additional 603 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on VRNS shares. 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. UBS Group lifted their price target on Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Jefferies Financial Group decreased their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 price target on shares of Varonis Systems in a report on Wednesday, May 7th. Finally, 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. 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 stock. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Stock Performance

VRNS traded up $0.65 on Friday, hitting $47.90. 1,317,161 shares of the company traded hands, compared to its average volume of 1,533,675. The company has a 50 day moving average of $42.93 and a 200-day moving average of $44.42. 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 stock has a market capitalization of $5.36 billion, a PE ratio of -55.70 and a beta of 0.79. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month 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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). The business 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 business's quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the company posted ($0.03) earnings per share. Sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems declared that its Board of Directors has initiated a share repurchase program on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is 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.