Versor Investments LP Acquires New Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Versor Investments LP bought a new position in Varonis Systems, Inc. (NASDAQ:VRNS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,400 shares of the technology company’s stock, valued at approximately $551,000.

Several other hedge funds also recently bought and sold shares of VRNS. Proficio Capital Partners LLC bought a new stake in shares of Varonis Systems in the 4th quarter valued at $898,000. Los Angeles Capital Management LLC grew its stake in Varonis Systems by 16.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 21,510 shares of the technology company’s stock valued at $956,000 after acquiring an additional 3,023 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Varonis Systems in the fourth quarter worth about $275,000. Olympiad Research LP raised its position in shares of Varonis Systems by 25.6% during the fourth quarter. Olympiad Research LP now owns 10,161 shares of the technology company’s stock worth $451,000 after purchasing an additional 2,073 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Varonis Systems by 31.2% during the 4th quarter. Handelsbanken Fonder AB now owns 28,600 shares of the technology company’s stock valued at $1,271,000 after purchasing an additional 6,800 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on VRNS shares. Citigroup lowered their target price 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. Needham & Company LLC reissued a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. Cantor Fitzgerald initiated 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. Jefferies Financial Group lowered their target price on Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their price target on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Varonis Systems has an average rating of “Moderate Buy” and an average target price of $59.38.

Varonis Systems Trading Up 1.1 %

NASDAQ VRNS opened at $42.97 on Friday. Varonis Systems, Inc. has a 12 month low of $39.62 and a 12 month high of $60.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average of $44.19 and a 200-day moving average of $50.31. The company has a market cap of $4.84 billion, a PE ratio of -49.96 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results 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 20.35% and a negative net margin of 17.38%. On average, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has approved a share repurchase program on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board 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.