Sei Investments Co. Raises Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Sei Investments Co. grew its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 217,516 shares of the technology company’s stock after buying an additional 24,949 shares during the quarter. Sei Investments Co. owned 0.19% of Varonis Systems worth $9,664,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Pacer Advisors Inc. grew 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 valued at $118,000 after acquiring an additional 603 shares during the period. R Squared Ltd purchased a new position in Varonis Systems during the fourth quarter valued at $194,000. KBC Group NV grew its position in shares of Varonis Systems by 45.6% in the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after purchasing an additional 1,488 shares during the period. Atom Investors LP purchased a new stake in shares of Varonis Systems during the third quarter worth about $224,000. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Varonis Systems during the 4th quarter worth about $224,000. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VRNS has been the topic of several research analyst reports. Citigroup lowered their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Wells Fargo & Company reduced their price objective on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.82.

Varonis Systems Trading Down 0.1 %

NASDAQ VRNS opened at $41.64 on Monday. Varonis Systems, Inc. has a 12 month low of $39.11 and a 12 month high of $60.58. The stock has a market capitalization of $4.69 billion, a P/E ratio of -48.42 and a beta of 0.85. The firm’s 50-day moving average is $42.71 and its two-hundred day moving average is $48.31. 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 (NASDAQ:VRNS) last posted its quarterly earnings data 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%. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems announced that its Board of Directors has initiated a share buyback program on Monday, February 10th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are 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.