Transce3nd LLC Purchases New Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Transce3nd LLC purchased a new position in Varonis Systems, Inc. (NASDAQ:VRNS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,400 shares of the technology company’s stock, valued at approximately $62,000.

A number of other hedge funds have also recently modified their holdings of the company. Summit Investment Advisors Inc. grew its stake in shares of Varonis Systems by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company’s stock worth $512,000 after purchasing an additional 365 shares during the last quarter. Bailard Inc. grew its position in shares of Varonis Systems by 0.4% in the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock worth $4,160,000 after buying an additional 417 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Varonis Systems by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company’s stock valued at $1,786,000 after buying an additional 424 shares during the period. Arizona State Retirement System raised its holdings in shares of Varonis Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company’s stock valued at $1,445,000 after acquiring an additional 425 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in Varonis Systems by 0.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company’s stock worth $3,352,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS opened at $39.42 on Tuesday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -45.84 and a beta of 0.76. The business’s fifty day simple moving average is $41.34 and its two-hundred day simple moving average is $46.46. Varonis Systems, Inc. has a 12 month low of $36.53 and a 12 month high of $60.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) 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 anticipate 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 initiated a stock buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VRNS. Wells Fargo & Company reduced their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley decreased their price target on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Wolfe Research raised 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. Cantor Fitzgerald initiated coverage on Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.