PAX Financial Group LLC Makes New $829,000 Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

PAX Financial Group LLC purchased a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 18,664 shares of the technology company’s stock, valued at approximately $829,000.

Other hedge funds have also modified their holdings of the company. Cerity Partners LLC increased its stake in Varonis Systems by 57.9% in the third quarter. Cerity Partners LLC now owns 10,220 shares of the technology company’s stock valued at $577,000 after purchasing an additional 3,747 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Varonis Systems by 11.3% in the 3rd quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company’s stock valued at $467,000 after buying an additional 837 shares in the last quarter. Atom Investors LP bought a new stake in shares of Varonis Systems in the 3rd quarter valued at $224,000. Benjamin Edwards Inc. acquired a new stake in Varonis Systems during the 3rd quarter worth $348,000. Finally, Point72 Asset Management L.P. bought a new position in Varonis Systems during the third quarter worth about $2,294,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VRNS has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Wolfe Research raised shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Friday, March 28th. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective for the company. DA Davidson dropped their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Finally, Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.53.

Varonis Systems Stock Down 2.6 %

VRNS stock opened at $40.48 on Friday. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58. The company has a market cap of $4.56 billion, a price-to-earnings ratio of -47.07 and a beta of 0.76. 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 business has a 50 day moving average price of $42.41 and a two-hundred day moving average price of $48.03.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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 anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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

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.