Bank of New York Mellon Corp Boosts Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Bank of New York Mellon Corp increased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 5.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 515,939 shares of the technology company’s stock after purchasing an additional 25,512 shares during the period. Bank of New York Mellon Corp owned 0.46% of Varonis Systems worth $20,870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRNS. Tower Research Capital LLC TRC increased its stake in Varonis Systems by 7.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company’s stock valued at $193,000 after purchasing an additional 298 shares in the last quarter. Teza Capital Management LLC increased its position in shares of Varonis Systems by 3.1% during the fourth quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company’s stock worth $437,000 after acquiring an additional 299 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Varonis Systems by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company’s stock worth $512,000 after purchasing an additional 365 shares in the last quarter. Franklin Resources Inc. grew its stake in Varonis Systems by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company’s stock worth $1,786,000 after purchasing an additional 424 shares in the last quarter. Finally, Occudo Quantitative Strategies LP boosted its stake in Varonis Systems by 5.2% in the fourth quarter. Occudo Quantitative Strategies LP now owns 10,871 shares of the technology company’s stock valued at $483,000 after acquiring an additional 540 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on Varonis Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Jefferies Financial Group reduced their target price on Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, March 31st. Wolfe Research upgraded Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Friday, March 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Varonis Systems in a research note on Tuesday, June 10th. Finally, Royal Bank Of Canada increased their target price on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

Insider Buying and Selling

In other news, Director Den Bosch Fred Van sold 6,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the director directly owned 131,666 shares of the company’s stock, valued at $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $50.57 on Friday. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $5.66 billion, a PE ratio of -62.43 and a beta of 0.76. The company’s 50 day simple moving average is $48.97 and its two-hundred day simple moving average is $44.77.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). Varonis Systems had a negative return on equity of 20.01% and a negative net margin of 15.88%. The firm had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. During the same period last year, the business earned ($0.03) EPS. Varonis Systems’s revenue was up 19.6% on a year-over-year basis. Analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

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.