Los Angeles Capital Management LLC Grows Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Los Angeles Capital Management LLC raised its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,510 shares of the technology company’s stock after buying an additional 3,023 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Varonis Systems were worth $956,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VRNS. Virtue Capital Management LLC raised its position in shares of Varonis Systems by 2.3% in the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after purchasing an additional 364 shares during the last quarter. Farther Finance Advisors LLC raised its position in Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the last quarter. Pacer Advisors Inc. raised its position in Varonis Systems by 29.5% during the 4th 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 last quarter. KBC Group NV raised its position in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after buying an additional 663 shares during the last quarter. Finally, Hanseatic Management Services Inc. raised its position in Varonis Systems by 4.3% during the 3rd quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company’s stock worth $946,000 after buying an additional 691 shares during the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRNS has been the subject of a number of recent research reports. Citigroup reduced their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. StockNews.com lowered shares of Varonis Systems from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Company reduced their price target on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. DA Davidson dropped their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Finally, Piper Sandler dropped their price objective on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.38.

Varonis Systems Trading Up 1.1 %

Shares of VRNS opened at $42.97 on Friday. Varonis Systems, Inc. has a 52-week low of $39.62 and a 52-week high of $60.58. 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 firm’s fifty day moving average is $44.19 and its two-hundred day moving average is $50.31. The stock has a market cap of $4.84 billion, a PE ratio of -49.96 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results 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 return on equity of 20.35% and a negative net margin of 17.38%. 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 initiated a stock repurchase plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are 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.