31,884 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) during the third quarter, HoldingsChannel.com reports. The fund purchased 31,884 shares of the technology company’s stock, valued at approximately $1,801,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its holdings in shares of Varonis Systems by 4.6% in the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock valued at $137,885,000 after buying an additional 127,129 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Varonis Systems by 1.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after acquiring an additional 23,231 shares during the period. Principal Financial Group Inc. boosted its position in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after buying an additional 147,081 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Varonis Systems by 40.0% in the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock valued at $38,361,000 after purchasing an additional 228,589 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Varonis Systems by 0.9% in the second quarter. Victory Capital Management Inc. now owns 773,353 shares of the technology company’s stock worth $37,098,000 after acquiring an additional 6,719 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

NASDAQ:VRNS opened at $50.11 on Tuesday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The business’s 50-day moving average price is $54.98 and its 200 day moving average price is $50.88. Varonis Systems, Inc. has a 52-week low of $39.67 and a 52-week high of $60.58. The firm has a market cap of $5.64 billion, a P/E ratio of -66.81 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same period in the previous year, the firm earned ($0.22) earnings per share. Varonis Systems’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

VRNS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Wedbush reissued an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a research report on Monday, August 26th. UBS Group upped their price target on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays raised their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird raised their target price on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.67.

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.