Victory Capital Management Inc. Has $31.20 Million Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Victory Capital Management Inc. decreased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 0.1% in the 4th quarter, HoldingsChannel reports. The fund owned 702,288 shares of the technology company’s stock after selling 451 shares during the period. Victory Capital Management Inc.’s holdings in Varonis Systems were worth $31,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in VRNS. Farther Finance Advisors LLC grew its stake in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares during the period. Pacer Advisors Inc. grew its stake in shares of Varonis Systems by 29.5% in 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. KBC Group NV grew its stake in shares of Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after purchasing an additional 663 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Varonis Systems in the 3rd quarter valued at approximately $184,000. Finally, R Squared Ltd bought a new stake in shares of Varonis Systems in the 4th quarter valued at approximately $194,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Down 1.0 %

NASDAQ:VRNS opened at $40.74 on Monday. The stock’s fifty day moving average price is $43.81 and its two-hundred day moving average price is $49.76. Varonis Systems, Inc. has a 52-week low of $39.62 and a 52-week high of $60.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $4.59 billion, a price-to-earnings ratio of -47.37 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last posted 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%. On average, analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has authorized a share buyback plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

VRNS has been the topic of several analyst reports. StockNews.com upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lowered their price objective on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Piper Sandler decreased their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Cantor Fitzgerald assumed coverage on Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target on the stock. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems 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.