Cerity Partners LLC Cuts Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Cerity Partners LLC lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,420 shares of the technology company’s stock after selling 800 shares during the quarter. Cerity Partners LLC’s holdings in Varonis Systems were worth $447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of VRNS. New Age Alpha Advisors LLC bought a new stake in shares of Varonis Systems in the 4th quarter worth $70,000. Pacer Advisors Inc. grew its position in Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares in the last quarter. R Squared Ltd bought a new stake in Varonis Systems in the 4th quarter worth about $194,000. KBC Group NV increased its stake in Varonis Systems by 45.6% in the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after buying an additional 1,488 shares during the last quarter. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Varonis Systems during the 4th quarter worth approximately $224,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup reduced their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Cantor Fitzgerald began coverage on Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price for the company. StockNews.com cut Varonis Systems from a “hold” rating to a “sell” rating in a research note on Friday, April 11th. Jefferies Financial Group reduced their price target on shares of Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Finally, Wells Fargo & Company lowered their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.11.

Varonis Systems Price Performance

Varonis Systems stock opened at $40.35 on Wednesday. The firm has a market capitalization of $4.54 billion, a P/E ratio of -46.92 and a beta of 0.76. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day moving average price of $41.27 and a 200-day moving average price of $46.41.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.10) 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%. As a group, equities research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has approved a share repurchase plan on Monday, February 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.