Arrowstreet Capital Limited Partnership Boosts Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Arrowstreet Capital Limited Partnership increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 28.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 369,317 shares of the technology company’s stock after purchasing an additional 81,343 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Varonis Systems were worth $16,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VRNS. Virtue Capital Management LLC lifted its stake in Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after purchasing an additional 364 shares during the last quarter. Bailard Inc. lifted its stake in shares of Varonis Systems by 0.4% in the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock valued at $4,160,000 after acquiring an additional 417 shares during the last quarter. Arizona State Retirement System boosted its holdings in Varonis Systems by 1.3% during the 4th quarter. Arizona State Retirement System now owns 32,531 shares of the technology company’s stock valued at $1,445,000 after acquiring an additional 425 shares during the period. Hillsdale Investment Management Inc. grew its position in Varonis Systems by 0.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company’s stock worth $3,352,000 after acquiring an additional 600 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake 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 during the period. Institutional investors own 95.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VRNS. Needham & Company LLC restated a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Citigroup cut their price target 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. DA Davidson lowered their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Piper Sandler dropped their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their price target on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Six investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.53.

Varonis Systems Trading Down 5.2 %

NASDAQ:VRNS opened at $38.36 on Friday. The firm has a market capitalization of $4.32 billion, a P/E ratio of -44.60 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. Varonis Systems, Inc. has a one year low of $37.81 and a one year high of $60.58. The company’s 50-day simple moving average is $42.29 and its 200 day simple moving average is $47.92.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board 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 buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally an indication 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.