Allspring Global Investments Holdings LLC Purchases 83,653 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Allspring Global Investments Holdings LLC increased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 23.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 434,123 shares of the technology company’s stock after buying an additional 83,653 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Varonis Systems were worth $19,249,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC boosted its stake in shares of Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares during the period. Pacer Advisors Inc. lifted its holdings in Varonis Systems by 29.5% in 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 in the last quarter. International Assets Investment Management LLC boosted its stake in Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,442 shares during the period. KBC Group NV grew its holdings in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after buying an additional 663 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Varonis Systems during the third quarter valued at approximately $184,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

Varonis Systems stock opened at $44.10 on Monday. The stock has a market capitalization of $4.96 billion, a P/E ratio of -51.28 and a beta of 0.83. Varonis Systems, Inc. has a 12-month low of $39.62 and a 12-month high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The firm’s 50-day moving average is $44.99 and its two-hundred day moving average is $50.97.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.45%. Equities analysts predict that Varonis Systems, Inc. will post -0.74 earnings per share for the current year.

Varonis Systems announced that its Board of Directors has authorized a share repurchase plan on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have commented on VRNS. Jefferies Financial Group decreased their price target on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. DA Davidson lowered their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Citigroup cut their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company dropped 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 report on Wednesday, February 5th. Finally, Robert W. Baird upped their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.38.

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.