Swiss National Bank Increases Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Swiss National Bank raised its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 220,654 shares of the technology company’s stock after buying an additional 2,900 shares during the period. Swiss National Bank’s holdings in Varonis Systems were worth $9,804,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after acquiring an additional 603 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Varonis Systems during the 3rd quarter valued at $184,000. R Squared Ltd bought a new stake in shares of Varonis Systems during the 4th quarter valued at $194,000. KBC Group NV grew its position in shares of Varonis Systems by 45.6% during the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after acquiring an additional 1,488 shares during the period. Finally, Atom Investors LP bought a new stake in shares of Varonis Systems during the 3rd quarter valued at $224,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Down 1.3 %

VRNS opened at $41.00 on Friday. The firm has a 50-day simple moving average of $43.05 and a two-hundred day simple moving average of $48.74. Varonis Systems, Inc. has a 52 week low of $39.11 and a 52 week high of $60.58. The company has a market capitalization of $4.61 billion, a PE ratio of -47.67 and a beta of 0.85. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results 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 net margin of 17.38% and a negative return on equity of 20.35%. Analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VRNS shares. Morgan Stanley started coverage on shares of Varonis Systems in a research report on Tuesday. They set an “overweight” rating for the company. Wells Fargo & Company dropped 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 report on Wednesday, February 5th. DA Davidson dropped their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.38.

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.