Raymond James Financial Inc. Buys New Shares in Varonis Systems, Inc. (NASDAQ:VRNS)

Raymond James Financial Inc. acquired a new position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 492,006 shares of the technology company's stock, valued at approximately $21,860,000. Raymond James Financial Inc. owned 0.44% of Varonis Systems at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. New Age Alpha Advisors LLC purchased a new position in shares of Varonis Systems in the fourth quarter valued at $70,000. Pacer Advisors Inc. lifted its holdings in shares of Varonis Systems by 29.5% in 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 in the last quarter. R Squared Ltd bought a new position in shares of Varonis Systems in the fourth quarter valued at approximately $194,000. KBC Group NV grew its stake in Varonis Systems by 45.6% during the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company's stock valued at $211,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new stake in Varonis Systems in the 4th quarter worth approximately $224,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Up 1.3 %

Shares of VRNS stock traded up $0.54 during mid-day trading on Thursday, hitting $41.83. The company's stock had a trading volume of 648,710 shares, compared to its average volume of 1,511,827. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -48.53 and a beta of 0.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. Varonis Systems, Inc. has a 52-week low of $36.53 and a 52-week high of $60.58. The business has a 50-day moving average price of $41.22 and a 200 day moving average price of $46.38.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. Research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VRNS shares. Cantor Fitzgerald initiated coverage on Varonis Systems in a research report on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price objective on the stock. Barclays decreased their price target on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. Citigroup reduced their price objective on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Varonis Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.11.

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.