Cibc World Markets Corp Invests $458,000 in Varonis Systems, Inc. (NASDAQ:VRNS)

Cibc World Markets Corp purchased a new position in Varonis Systems, Inc. (NASDAQ:VRNS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,318 shares of the technology company’s stock, valued at approximately $458,000.

Several other hedge funds have also recently modified their holdings of the business. Swiss National Bank lifted its position in shares of Varonis Systems by 1.3% in the 4th quarter. Swiss National Bank now owns 220,654 shares of the technology company’s stock worth $9,804,000 after purchasing an additional 2,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Varonis Systems by 28.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 323,217 shares of the technology company’s stock worth $14,361,000 after purchasing an additional 71,701 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Varonis Systems in the 4th quarter worth approximately $365,000. Wealthfront Advisers LLC purchased a new stake in Varonis Systems during the fourth quarter valued at approximately $17,088,000. Finally, Inspire Advisors LLC purchased a new stake in Varonis Systems during the fourth quarter valued at approximately $1,866,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VRNS. Jefferies Financial Group decreased their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Citigroup decreased 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 report on Friday, January 17th. Cantor Fitzgerald began coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price for the company. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.38.

Varonis Systems Stock Down 1.3 %

NASDAQ:VRNS opened at $41.00 on Monday. The firm has a market capitalization of $4.61 billion, a P/E ratio of -47.67 and a beta of 0.85. Varonis Systems, Inc. has a 1-year low of $39.11 and a 1-year high of $60.58. The company’s fifty day moving average price is $43.05 and its 200-day moving average price is $48.65. 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 released its quarterly 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%. As a group, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its board has approved a stock buyback plan on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.