Cerity Partners LLC Boosts Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Cerity Partners LLC increased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 57.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,220 shares of the technology company’s stock after purchasing an additional 3,747 shares during the quarter. Cerity Partners LLC’s holdings in Varonis Systems were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in shares of Varonis Systems by 4.6% during the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock valued at $137,885,000 after purchasing an additional 127,129 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Varonis Systems by 1.1% in the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after buying an additional 23,231 shares in the last quarter. Principal Financial Group Inc. grew its holdings 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 valued at $100,789,000 after buying an additional 147,081 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Varonis Systems by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock valued at $54,405,000 after acquiring an additional 59,218 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Varonis Systems by 40.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after acquiring an additional 228,589 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays increased their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. UBS Group raised their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler boosted their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Finally, Robert W. Baird lifted their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.67.

Varonis Systems Trading Up 0.2 %

NASDAQ:VRNS opened at $49.81 on Friday. The company has a market capitalization of $5.60 billion, a PE ratio of -66.41 and a beta of 0.80. Varonis Systems, Inc. has a 52-week low of $41.13 and a 52-week high of $60.58. The stock’s 50 day moving average price is $53.87 and its 200 day moving average price is $51.25. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business’s revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.22) earnings per share. On average, research analysts anticipate that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

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.