Raymond James & Associates Increases Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Raymond James & Associates increased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 76,331 shares of the technology company’s stock after acquiring an additional 3,234 shares during the quarter. Raymond James & Associates owned about 0.07% of Varonis Systems worth $2,034,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in Varonis Systems by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 495,160 shares of the technology company’s stock valued at $23,540,000 after buying an additional 18,813 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Varonis Systems by 91.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,096 shares of the technology company’s stock valued at $99,000 after buying an additional 1,003 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Varonis Systems by 56.9% during the 1st quarter. MetLife Investment Management LLC now owns 56,965 shares of the technology company’s stock valued at $2,708,000 after buying an additional 20,660 shares in the last quarter. Rhumbline Advisers grew its holdings in Varonis Systems by 0.7% during the 1st quarter. Rhumbline Advisers now owns 112,981 shares of the technology company’s stock valued at $5,371,000 after buying an additional 811 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Varonis Systems by 27.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 48,297 shares of the technology company’s stock valued at $2,362,000 after buying an additional 10,445 shares in the last quarter. Hedge funds and other institutional investors own 92.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Varonis Systems from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Wedbush boosted their price objective on Varonis Systems from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. TD Cowen boosted their price objective on Varonis Systems from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. StockNews.com began coverage on Varonis Systems in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Morgan Stanley raised Varonis Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $34.00 to $39.00 in a report on Monday, October 16th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.74.

Insider Activity at Varonis Systems

In related news, EVP David Bass sold 34,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $29.51, for a total transaction of $1,003,340.00. Following the completion of the transaction, the executive vice president now owns 650,756 shares in the company, valued at $19,203,809.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Avrohom J. Kess purchased 1,250 shares of Varonis Systems stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average cost of $29.72 per share, with a total value of $37,150.00. Following the completion of the purchase, the director now directly owns 23,032 shares in the company, valued at $684,511.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Bass sold 34,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $29.51, for a total value of $1,003,340.00. Following the completion of the sale, the executive vice president now directly owns 650,756 shares in the company, valued at $19,203,809.56. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $31.50 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.55 and a current ratio of 3.55. The company has a market capitalization of $3.45 billion, a P/E ratio of -29.72 and a beta of 0.85. The stock has a 50 day moving average price of $31.16 and a two-hundred day moving average price of $28.01. Varonis Systems, Inc. has a fifty-two week low of $15.61 and a fifty-two week high of $34.17.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, July 31st. The technology company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.08). The business had revenue of $115.42 million for the quarter, compared to the consensus estimate of $119.21 million. Varonis Systems had a negative net margin of 23.83% and a negative return on equity of 22.30%. Analysts expect that Varonis Systems, Inc. will post -0.97 earnings per share for the current year.

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; strategic and product plans; and other intellectual property.