Envestnet Asset Management Inc. Boosts Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Envestnet Asset Management Inc. lifted its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,196 shares of the technology company’s stock after purchasing an additional 962 shares during the period. Envestnet Asset Management Inc.’s holdings in Varonis Systems were worth $1,430,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRNS. William Blair Investment Management LLC boosted its stake in Varonis Systems by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock valued at $101,750,000 after acquiring an additional 52,971 shares during the last quarter. Barclays PLC grew its holdings in Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock valued at $22,007,000 after purchasing an additional 35,274 shares during the period. Advantage Alpha Capital Partners LP increased its position in Varonis Systems by 30.1% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company’s stock worth $4,038,000 after buying an additional 21,040 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Varonis Systems by 9.0% in 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 period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Varonis Systems by 761.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock valued at $50,026,000 after buying an additional 995,274 shares during the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Stock Up 1.4 %

NASDAQ VRNS opened at $42.82 on Wednesday. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58. The stock has a market capitalization of $4.79 billion, a PE ratio of -49.79 and a beta of 0.76. 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’s 50-day moving average is $41.10 and its 200 day moving average is $45.87.

Varonis Systems (NASDAQ:VRNS) last posted its 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 net margin of 17.38% and a negative return on equity of 20.35%. Sell-side analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems declared that its board has initiated a share buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup lowered their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Wolfe Research raised shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Friday, March 28th. Barclays cut their price target on shares of Varonis Systems from $60.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Wells Fargo & Company dropped their price target on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Varonis Systems from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

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.