Vident Advisory LLC Raises Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Vident Advisory LLC raised its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,870 shares of the technology company's stock after acquiring an additional 16,539 shares during the quarter. Vident Advisory LLC owned approximately 0.08% of Varonis Systems worth $3,815,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Varonis Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock worth $544,124,000 after acquiring an additional 193,210 shares during the last quarter. First Trust Advisors LP raised its holdings in Varonis Systems by 4.8% during the fourth quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company's stock worth $111,145,000 after purchasing an additional 113,573 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Varonis Systems by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after purchasing an additional 52,971 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Varonis Systems by 1.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company's stock worth $101,636,000 after purchasing an additional 29,852 shares in the last quarter. Finally, Hood River Capital Management LLC raised its holdings in Varonis Systems by 12.3% during the fourth quarter. Hood River Capital Management LLC now owns 2,116,882 shares of the technology company's stock worth $94,053,000 after purchasing an additional 231,998 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

Varonis Systems Stock Performance

VRNS traded up $0.06 during trading on Friday, hitting $46.82. The stock had a trading volume of 705,411 shares, compared to its average volume of 1,533,507. 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 $5.24 billion, a P/E ratio of -54.44 and a beta of 0.79. The company's 50-day moving average price is $42.37 and its 200 day moving average price is $44.61. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (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 analyst estimates of $133.10 million. Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The business's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. On average, equities research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VRNS shares. Jefferies Financial Group cut their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a report on Monday, March 31st. UBS Group raised their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley cut their price objective 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. Wall Street Zen raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Finally, Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Friday, March 28th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus target price of $55.06.

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.