3,718 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Bought by Raiffeisen Bank International AG

Raiffeisen Bank International AG bought a new position in Varonis Systems, Inc. (NASDAQ:VRNS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,718 shares of the technology company’s stock, valued at approximately $163,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Varonis Systems in the 4th quarter worth $36,000. Johnson Financial Group Inc. acquired a new stake in Varonis Systems during the 4th quarter worth about $61,000. Transce3nd LLC acquired a new stake in Varonis Systems during the 4th quarter worth about $62,000. New Age Alpha Advisors LLC acquired a new stake in Varonis Systems during the 4th quarter worth about $70,000. Finally, Pacer Advisors Inc. grew 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 purchasing an additional 603 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analyst Upgrades and Downgrades

VRNS has been the topic of several analyst reports. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price target on shares of Varonis Systems in a research report on Wednesday, May 7th. UBS Group increased their price target on Varonis Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Jefferies Financial Group cut their price target on Varonis Systems from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Finally, Wells Fargo & Company cut their price target on 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. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Varonis Systems Trading Up 1.4%

VRNS opened at $46.32 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $41.87 and its two-hundred day simple moving average is $44.68. 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 $5.18 billion, a price-to-earnings ratio of -53.86 and a beta of 0.79.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The firm had revenue of $136.42 million for the quarter, compared to analysts’ expectations of $133.10 million. Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. Analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has approved a stock buyback plan on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

About Varonis Systems

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.