By otakuyassine3@gmail.com 
Alliancebernstein L.P. increased its stake in Varonis Systems, Inc. (NASDAQ:VRNS – Free Report) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,977 shares of the technology company’s stock after purchasing an additional 1,381 shares during the period. Alliancebernstein L.P.’s holdings in Varonis Systems were worth $6,175,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Varonis Systems in the fourth quarter worth $56,561,000. Assenagon Asset Management S.A. raised its stake in Varonis Systems by 761.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after acquiring an additional 995,274 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Varonis Systems in the 4th quarter worth $21,860,000. Wealthfront Advisers LLC purchased a new stake in Varonis Systems during the 4th quarter valued at about $17,088,000. Finally, Vanguard Group Inc. increased its holdings in shares of Varonis Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company’s stock valued at $544,124,000 after purchasing an additional 193,210 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.
Varonis Systems Trading Up 0.4 %
Shares of NASDAQ:VRNS opened at $41.30 on Friday. The business’s 50 day moving average price is $41.51 and its 200-day moving average price is $47.16. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of -48.02 and a beta of 0.76. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.
Varonis Systems (NASDAQ:VRNS – Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. On average, equities research analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.
Varonis Systems announced that its Board of Directors has approved a stock buyback program on Monday, February 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on VRNS. Morgan Stanley initiated coverage on Varonis Systems in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. 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 research note on Monday, March 31st. Wolfe Research upgraded shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Friday, March 28th. StockNews.com downgraded Varonis Systems from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems presently has an average rating of “Moderate Buy” and an average target price of $58.53.
Get Our Latest Research Report on VRNS
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.
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