Pier Capital LLC Purchases 3,965 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Pier Capital LLC boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,518 shares of the technology company’s stock after acquiring an additional 3,965 shares during the period. Pier Capital LLC owned 0.14% of Varonis Systems worth $7,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in 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 purchasing an additional 603 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Varonis Systems in the third quarter valued at approximately $184,000. Atom Investors LP bought a new position in Varonis Systems in the third quarter valued at approximately $224,000. Tidal Investments LLC bought a new position in Varonis Systems in the third quarter valued at approximately $232,000. Finally, R Squared Ltd bought a new stake in shares of Varonis Systems during the 4th quarter valued at $194,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Stock Up 0.9 %

VRNS stock opened at $41.38 on Tuesday. 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 stock has a market capitalization of $4.66 billion, a P/E ratio of -48.12 and a beta of 0.85. Varonis Systems, Inc. has a fifty-two week low of $39.11 and a fifty-two week high of $60.58. The business has a 50-day moving average of $42.99 and a 200-day moving average of $48.57.

Varonis Systems (NASDAQ:VRNS) last released 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%. On average, sell-side analysts anticipate 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 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 plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

VRNS has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on Varonis Systems in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Jefferies Financial Group lowered their price target on Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. Finally, Citigroup cut their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.38.

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.