Price T Rowe Associates Inc. MD Cuts Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Price T Rowe Associates Inc. MD reduced its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 52.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,059 shares of the technology company's stock after selling 86,602 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.07% of Varonis Systems worth $3,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Transce3nd LLC acquired a new position in Varonis Systems during the 4th quarter worth about $62,000. New Age Alpha Advisors LLC acquired a new position in shares of Varonis Systems in the fourth quarter valued at approximately $70,000. Pacer Advisors Inc. boosted its position in shares of Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after buying an additional 603 shares during the period. Tidal Investments LLC bought a new position in Varonis Systems in the third quarter valued at $232,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Varonis Systems by 7.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock worth $193,000 after purchasing an additional 298 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on VRNS. UBS Group increased their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Citigroup decreased their price objective on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. 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 research report on Friday, March 28th. Finally, Morgan Stanley reduced their target price on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Six 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Price Performance

Shares of VRNS stock traded down $0.18 on Friday, reaching $45.30. The company had a trading volume of 1,370,252 shares, compared to its average volume of 1,523,503. The stock has a market capitalization of $5.07 billion, a PE ratio of -52.67 and a beta of 0.79. 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 business's 50-day moving average is $41.27 and its 200 day moving average is $45.22. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results 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). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The company had revenue of $136.42 million for the quarter, compared to analyst estimates of $133.10 million. During the same quarter last year, the company posted ($0.03) earnings per share. The firm's quarterly revenue was up 19.6% on a year-over-year basis. Equities research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has authorized a share buyback program on Monday, February 10th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Varonis Systems 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.