Sei Investments Co. Grows Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Sei Investments Co. boosted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,516 shares of the technology company’s stock after purchasing an additional 24,949 shares during the quarter. Sei Investments Co.’s holdings in Varonis Systems were worth $9,664,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. William Blair Investment Management LLC increased its stake in shares of Varonis Systems by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock worth $101,750,000 after buying an additional 52,971 shares during the period. Barclays PLC raised its holdings in shares of Varonis Systems by 10.0% in the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock valued at $22,007,000 after purchasing an additional 35,274 shares in the last quarter. Citigroup Inc. lifted its position in shares of Varonis Systems by 88.4% during the 3rd quarter. Citigroup Inc. now owns 105,429 shares of the technology company’s stock worth $5,957,000 after purchasing an additional 49,472 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after purchasing an additional 147,081 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Varonis Systems in the third quarter valued at $2,294,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

VRNS has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. Morgan Stanley assumed coverage on Varonis Systems in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. DA Davidson cut their price target on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price objective on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Six equities research 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 data from MarketBeat.com, Varonis Systems has an average rating of “Moderate Buy” and a consensus target price of $58.82.

Varonis Systems Stock Down 0.1 %

VRNS opened at $41.64 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. Varonis Systems, Inc. has a 12 month low of $39.11 and a 12 month high of $60.58. The stock has a market capitalization of $4.69 billion, a P/E ratio of -48.42 and a beta of 0.85. The business has a 50 day simple moving average of $42.71 and a 200-day simple moving average of $48.31.

Varonis Systems (NASDAQ:VRNS) last released its 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 net margin of 17.38% and a negative return on equity of 20.35%. On average, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has initiated a share buyback plan 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 plans are typically an indication that the company’s management believes its stock is undervalued.

Varonis Systems Company 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.