Varonis Systems, Inc. (NASDAQ:VRNS) Holdings Lifted by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 91.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,769 shares of the technology company’s stock after acquiring an additional 45,627 shares during the period. EFG Asset Management North America Corp. owned about 0.09% of Varonis Systems worth $4,254,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position 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 purchasing an additional 603 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Varonis Systems in the 3rd quarter valued at approximately $184,000. R Squared Ltd purchased a new stake in Varonis Systems in the 4th quarter worth approximately $194,000. KBC Group NV boosted its stake in shares of Varonis Systems by 45.6% during the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after buying an additional 1,488 shares during the period. Finally, Atom Investors LP acquired a new stake in shares of Varonis Systems during the 3rd quarter valued at $224,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VRNS. Morgan Stanley began coverage on Varonis Systems in a report on Tuesday, March 18th. They set an “overweight” rating for the company. Citigroup cut their price target on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald began coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target for the company. Jefferies Financial Group cut their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.38.

Varonis Systems Trading Up 0.9 %

Varonis Systems stock opened at $41.38 on Tuesday. The business’s 50-day simple moving average is $42.99 and its 200-day simple moving average is $48.57. Varonis Systems, Inc. has a 52 week low of $39.11 and a 52 week high of $60.58. The firm has a market capitalization of $4.66 billion, a PE ratio of -48.12 and a beta of 0.85. 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 (NASDAQ:VRNS) last issued its quarterly 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%. Equities research analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems declared that its board has initiated a stock repurchase program on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is 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.