Amundi Trims Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Amundi reduced its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,290 shares of the technology company’s stock after selling 4,672 shares during the period. Amundi’s holdings in Varonis Systems were worth $2,667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems during the third quarter worth approximately $184,000. KBC Group NV increased 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 worth $184,000 after buying an additional 663 shares during the period. R Squared Ltd purchased a new stake in shares of Varonis Systems during the fourth quarter worth approximately $194,000. Finally, Atom Investors LP purchased a new stake in shares of Varonis Systems during the third quarter worth approximately $224,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VRNS. Jefferies Financial Group cut their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Citigroup lowered their price target on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald initiated coverage on Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.38.

Varonis Systems Trading Up 2.2 %

NASDAQ:VRNS opened at $40.01 on Monday. The stock has a fifty day moving average price of $43.35 and a two-hundred day moving average price of $49.16. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of -46.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. Varonis Systems, Inc. has a 1 year low of $39.11 and a 1 year 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%. As a group, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has authorized a share repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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.