Peregrine Capital Management LLC Has $11.88 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Peregrine Capital Management LLC lifted its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 267,305 shares of the technology company’s stock after buying an additional 12,555 shares during the quarter. Peregrine Capital Management LLC owned about 0.24% of Varonis Systems worth $11,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of VRNS. Virtue Capital Management LLC lifted its position in shares of Varonis Systems by 2.3% during the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after purchasing an additional 364 shares during the last quarter. Farther Finance Advisors LLC increased its position in Varonis Systems by 445.3% during 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. increased its position 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 acquiring an additional 603 shares during the period. KBC Group NV boosted its holdings in Varonis Systems by 25.5% in the 3rd 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 during the period. Finally, Hanseatic Management Services Inc. grew its position in Varonis Systems by 4.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company’s stock worth $946,000 after purchasing an additional 691 shares during the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Performance

VRNS opened at $44.10 on Tuesday. Varonis Systems, Inc. has a 1-year low of $39.62 and a 1-year high of $60.58. The firm has a 50-day moving average price of $44.89 and a two-hundred day moving average price of $50.91. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

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 the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.45% and a negative net margin of 17.38%. As a group, analysts expect that Varonis Systems, Inc. will post -0.74 earnings per share for the current year.

Varonis Systems declared that its Board of Directors has authorized a share repurchase program on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VRNS. UBS Group boosted their price objective on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. 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. Wells Fargo & Company reduced their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Citigroup lowered their target price 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. Finally, DA Davidson cut 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 note on Thursday, December 12th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.