Varonis Systems (NASDAQ:VRNS) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Varonis Systems (NASDAQ:VRNS) from a hold rating to a buy rating in a research note released on Wednesday.

VRNS has been the subject of a number of other reports. TD Cowen boosted their price target on Varonis Systems from $35.00 to $37.00 and gave the company an outperform rating in a research note on Tuesday, August 1st. Citigroup increased their price objective on shares of Varonis Systems from $27.00 to $32.00 and gave the company a neutral rating in a report on Tuesday, August 29th. JMP Securities restated a market outperform rating and issued a $63.00 price target on shares of Varonis Systems in a research report on Wednesday, August 2nd. Wells Fargo & Company boosted their price objective on Varonis Systems from $26.00 to $29.00 and gave the stock an equal weight rating in a research note on Tuesday, August 1st. Finally, DA Davidson raised their target price on shares of Varonis Systems from $30.00 to $35.00 and gave the stock a buy rating in a report on Tuesday, August 1st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $36.13.

Varonis Systems Stock Up 0.3 %

Varonis Systems stock opened at $35.36 on Wednesday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.56. Varonis Systems has a 12 month low of $17.73 and a 12 month high of $35.44. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -35.01 and a beta of 0.78. The stock has a fifty day simple moving average of $31.64 and a two-hundred day simple moving average of $28.43.

Insider Buying and Selling at Varonis Systems

In related news, EVP David Bass sold 150,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $33.00, for a total transaction of $4,950,000.00. Following the transaction, the executive vice president now directly owns 500,756 shares in the company, valued at approximately $16,524,948. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates increased its stake in shares of Varonis Systems by 24.7% in the first quarter. Raymond James & Associates now owns 41,783 shares of the technology company’s stock worth $1,986,000 after acquiring an additional 8,272 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 worth $23,540,000 after buying an additional 18,813 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Varonis Systems by 91.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,096 shares of the technology company’s stock valued at $99,000 after purchasing an additional 1,003 shares in the last quarter. MetLife Investment Management LLC increased its stake 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 worth $2,708,000 after buying an additional 20,660 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Varonis Systems by 0.7% in the 1st quarter. Rhumbline Advisers now owns 112,981 shares of the technology company’s stock valued at $5,371,000 after purchasing an additional 811 shares during the last quarter. 92.47% of the stock is currently owned by institutional investors and hedge funds.

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; strategic and product plans; and other intellectual property.