Charles Schwab Investment Management Inc. Increases Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Charles Schwab Investment Management Inc. grew its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 0.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 971,844 shares of the technology company’s stock after purchasing an additional 8,921 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Varonis Systems were worth $43,179,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after purchasing an additional 603 shares during the period. KBC Group NV raised its stake in shares of Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after purchasing an additional 663 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems during the third quarter valued at approximately $184,000. Finally, R Squared Ltd bought a new stake in shares of Varonis Systems in the fourth quarter worth $194,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $40.01 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of -46.52 and a beta of 0.85. The company’s 50 day moving average is $43.35 and its 200 day moving average is $49.26. Varonis Systems, Inc. has a 52-week low of $39.11 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several research firms have weighed in on VRNS. Wells Fargo & Company lowered 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 research note on Wednesday, February 5th. Citigroup dropped their price target 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. Needham & Company LLC reiterated a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, DA Davidson reduced their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.