Handelsbanken Fonder AB Has $1.27 Million Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Handelsbanken Fonder AB increased its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 31.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,600 shares of the technology company’s stock after buying an additional 6,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Varonis Systems were worth $1,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VRNS. Farther Finance Advisors LLC lifted its holdings in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Varonis Systems by 29.5% during the fourth 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. International Assets Investment Management LLC lifted its stake in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after buying an additional 2,442 shares in the last quarter. KBC Group NV lifted its position in shares of Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after purchasing an additional 663 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems in the 3rd quarter worth about $184,000. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Down 0.1 %

Shares of NASDAQ VRNS opened at $42.81 on Thursday. The stock has a market capitalization of $4.82 billion, a P/E ratio of -49.78 and a beta of 0.83. Varonis Systems, Inc. has a one year low of $39.62 and a one year high of $60.58. The firm’s 50 day simple moving average is $44.34 and its two-hundred day simple moving average is $50.53. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.

Varonis Systems (NASDAQ:VRNS) last announced 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%. As a group, analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

VRNS has been the subject of a number of research analyst reports. Citigroup decreased their price target on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Cantor Fitzgerald started coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price objective on the stock. Wells Fargo & Company reduced their target price 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. Finally, Jefferies Financial Group lowered their price target on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and an average price target of $59.38.

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.