Bank of New York Mellon Corp Sells 3,249 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Bank of New York Mellon Corp decreased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 490,427 shares of the technology company’s stock after selling 3,249 shares during the period. Bank of New York Mellon Corp owned 0.44% of Varonis Systems worth $21,790,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC grew its position in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares during the period. Assetmark Inc. increased its holdings in shares of Varonis Systems by 31.0% in the 3rd quarter. Assetmark Inc. now owns 5,814 shares of the technology company’s stock worth $328,000 after buying an additional 1,375 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Varonis Systems during the 3rd quarter valued at about $1,045,000. Lisanti Capital Growth LLC grew its holdings in Varonis Systems by 17.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock valued at $4,198,000 after purchasing an additional 10,820 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Varonis Systems in the 3rd quarter valued at about $17,419,000. Institutional investors own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. DA Davidson lowered their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Piper Sandler cut their price objective on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Cantor Fitzgerald started coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Trading Down 1.8 %

Shares of VRNS stock opened at $40.01 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $4.50 billion, a P/E ratio of -46.52 and a beta of 0.85. The company has a 50 day moving average price of $43.73 and a 200 day moving average price of $49.65. Varonis Systems, Inc. has a fifty-two week low of $39.62 and a fifty-two week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (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%. Equities research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has approved a share repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.