Dimensional Fund Advisors LP Sells 79,791 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Dimensional Fund Advisors LP lowered its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 276,682 shares of the technology company’s stock after selling 79,791 shares during the period. Dimensional Fund Advisors LP owned 0.25% of Varonis Systems worth $12,291,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new stake in Varonis Systems in the 4th quarter valued at about $70,000. Pacer Advisors Inc. boosted its stake in shares of Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after buying an additional 603 shares during the period. R Squared Ltd acquired a new stake in Varonis Systems during the fourth quarter worth approximately $194,000. KBC Group NV increased its stake in Varonis Systems by 45.6% during the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock worth $211,000 after acquiring an additional 1,488 shares during the period. Finally, Stoneridge Investment Partners LLC acquired a new position in Varonis Systems in the 4th quarter valued at $224,000. 95.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VRNS shares. UBS Group raised their target price on Varonis Systems from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company reduced their price objective on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. reduced their price target on shares of Varonis Systems from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley lowered their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

Varonis Systems Trading Down 0.4 %

Shares of Varonis Systems stock opened at $45.30 on Friday. The company’s 50-day moving average price is $41.35 and its 200-day moving average price is $45.13. The company has a market cap of $5.07 billion, a price-to-earnings ratio of -52.67 and a beta of 0.79. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The business had revenue of $136.42 million for the quarter, compared to analysts’ expectations of $133.10 million. Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. On average, equities analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has initiated a stock repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

About Varonis Systems

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.