Envestnet Asset Management Inc. Raises Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Envestnet Asset Management Inc. raised its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,196 shares of the technology company’s stock after buying an additional 962 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Varonis Systems were worth $1,430,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of VRNS. William Blair Investment Management LLC lifted its position in Varonis Systems by 2.4% during the 4th 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 period. Barclays PLC lifted its holdings in shares of 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 last quarter. Advantage Alpha Capital Partners LP lifted its holdings in shares of Varonis Systems by 30.1% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company’s stock valued at $4,038,000 after purchasing an additional 21,040 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after purchasing an additional 147,081 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in 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 in the last quarter. Institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on VRNS. Barclays dropped their target price on Varonis Systems from $60.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target on the stock. Jefferies Financial Group lowered their price target on Varonis Systems from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Finally, Morgan Stanley reduced their price objective on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Varonis Systems Trading Up 1.4 %

Shares of NASDAQ:VRNS opened at $42.82 on Wednesday. The stock has a 50 day moving average of $41.10 and a 200 day moving average of $45.87. The company has a market cap of $4.79 billion, a PE ratio of -49.79 and a beta of 0.76. 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 posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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, equities research analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has authorized a share repurchase program on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.