Y Intercept Hong Kong Ltd Takes $275,000 Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Y Intercept Hong Kong Ltd bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,179 shares of the technology company’s stock, valued at approximately $275,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in shares of Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after buying an additional 2,442 shares during the last quarter. Stephens Inc. AR acquired a new stake in shares of Varonis Systems during the third quarter worth about $276,000. Farther Finance Advisors LLC lifted its holdings in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Varonis Systems by 39.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 26,964 shares of the technology company’s stock valued at $1,523,000 after purchasing an additional 7,627 shares during the period. Finally, Hanseatic Management Services Inc. grew its stake in Varonis Systems by 4.3% during the 3rd quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company’s stock worth $946,000 after buying an additional 691 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Performance

Shares of VRNS opened at $41.60 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a 52-week low of $39.62 and a 52-week high of $60.58. The company has a 50-day simple moving average of $44.05 and a 200-day simple moving average of $50.08. The company has a market capitalization of $4.68 billion, a PE ratio of -48.37 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last issued its 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 net margin of 17.38% and a negative return on equity of 20.35%. Equities research analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. DA Davidson decreased their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Citigroup lowered their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company reduced their target price on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Cantor Fitzgerald assumed coverage on Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target on the stock. Finally, Jefferies Financial Group reduced their price objective on Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.38.

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.