Keybank National Association OH Has $452,000 Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Keybank National Association OH raised its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,184 shares of the technology company’s stock after purchasing an additional 639 shares during the quarter. Keybank National Association OH’s holdings in Varonis Systems were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in VRNS. Farther Finance Advisors LLC boosted its holdings in Varonis Systems by 445.3% during the third 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 in the last quarter. Assetmark Inc. boosted its holdings in Varonis Systems by 31.0% during the third quarter. Assetmark Inc. now owns 5,814 shares of the technology company’s stock valued at $328,000 after purchasing an additional 1,375 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Varonis Systems during the third quarter valued at approximately $1,045,000. Lisanti Capital Growth LLC boosted its holdings in Varonis Systems by 17.0% during the third 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 in the last quarter. Finally, WCM Investment Management LLC acquired a new stake in Varonis Systems during the third quarter valued at approximately $17,419,000. 95.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price for the company. DA Davidson cut their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Citigroup cut their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler cut 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 note on Monday, January 6th. Six research 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, the company presently has an average rating of “Moderate Buy” and an average price target of $59.38.

Varonis Systems Stock Performance

VRNS stock opened at $40.74 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50 day moving average price of $43.81 and a 200 day moving average price of $49.76. Varonis Systems, Inc. has a fifty-two week low of $39.62 and a fifty-two week high of $60.58. The stock has a market capitalization of $4.59 billion, a PE ratio of -47.37 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate 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%. Analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has approved a stock repurchase plan on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Varonis Systems 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.