Northern Trust Corp Acquires 84,796 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Northern Trust Corp raised its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,122,939 shares of the technology company's stock after acquiring an additional 84,796 shares during the quarter. Northern Trust Corp owned approximately 1.00% of Varonis Systems worth $49,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Varonis Systems during the 4th quarter worth approximately $36,000. Johnson Financial Group Inc. acquired a new position in Varonis Systems during the 4th quarter worth approximately $61,000. Transce3nd LLC acquired a new stake in shares of Varonis Systems during the 4th quarter worth about $62,000. New Age Alpha Advisors LLC purchased a new stake in Varonis Systems during the fourth quarter worth approximately $70,000. Finally, Pacer Advisors Inc. boosted its holdings in Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after purchasing an additional 603 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

Varonis Systems Price Performance

NASDAQ:VRNS traded down $0.18 during trading hours on Friday, reaching $45.30. 1,370,252 shares of the company were exchanged, compared to its average volume of 1,525,368. The company has a market capitalization of $5.07 billion, a P/E ratio of -52.67 and a beta of 0.79. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day moving average of $41.35 and a 200 day moving average of $45.13.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.26). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The company had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. During the same period in the previous year, the company earned ($0.03) EPS. Varonis Systems's revenue for the quarter was up 19.6% on a year-over-year basis. Research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has authorized a stock repurchase plan 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 plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VRNS. Citigroup decreased their target price on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. Needham & Company LLC reiterated a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Wolfe Research upgraded 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. Royal Bank of Canada increased their price target on Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Barclays decreased their target price on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Varonis Systems presently has a consensus rating of "Moderate Buy" and a consensus price target 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.