State of New Jersey Common Pension Fund D Boosts Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

State of New Jersey Common Pension Fund D lifted its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 42,373 shares of the technology company’s stock after acquiring an additional 877 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Varonis Systems were worth $1,883,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in Varonis Systems by 445.3% in the third 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 last quarter. International Assets Investment Management LLC increased its holdings in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after buying an additional 2,442 shares during the period. Pacer Advisors Inc. lifted its stake in shares of 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 last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Varonis Systems in the 3rd quarter valued at about $184,000. Finally, KBC Group NV boosted its holdings in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after acquiring an additional 663 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Down 0.2 %

NASDAQ:VRNS opened at $42.90 on Tuesday. Varonis Systems, Inc. has a 1-year low of $39.62 and a 1-year high of $60.58. The company has a market capitalization of $4.83 billion, a PE ratio of -49.88 and a beta of 0.83. The firm’s 50-day moving average price is $44.43 and its 200-day moving average price is $50.62. 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 announced its 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 net margin of 17.38% and a negative return on equity of 20.35%. On average, equities analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has approved a share repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have weighed in on VRNS. Citigroup lowered their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. DA Davidson cut their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. upped their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Cantor Fitzgerald assumed coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price on the stock. Finally, Piper Sandler reduced their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average price target of $59.38.

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.