Intech Investment Management LLC Buys New Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Intech Investment Management LLC purchased a new position in Varonis Systems, Inc. (NASDAQ:VRNS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,884 shares of the technology company’s stock, valued at approximately $1,801,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. EFG Asset Management North America Corp. increased its holdings in shares of Varonis Systems by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock worth $2,181,000 after purchasing an additional 216 shares during the last quarter. O Neil Global Advisors Inc. boosted its position in shares of Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after acquiring an additional 220 shares during the last quarter. Hanseatic Management Services Inc. grew its holdings in shares of Varonis Systems by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after purchasing an additional 275 shares in the last quarter. Xponance Inc. increased its position in Varonis Systems by 5.6% in the second quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock worth $335,000 after purchasing an additional 367 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in Varonis Systems by 3.5% during the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after purchasing an additional 401 shares in the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on VRNS. Robert W. Baird lifted their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Monday, August 26th. Wells Fargo & Company raised their price objective on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Susquehanna boosted their target price on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, July 30th. Finally, TD Cowen raised their price target on Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.67.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $50.11 on Tuesday. The business’s fifty day simple moving average is $54.98 and its 200-day simple moving average is $50.88. Varonis Systems, Inc. has a 12-month low of $39.67 and a 12-month high of $60.58. The company has a market cap of $5.64 billion, a PE ratio of -66.81 and a beta of 0.82. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. Analysts expect that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Activity at Varonis Systems

In other news, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

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.