IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 3.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 103,990 shares of the technology company’s stock after acquiring an additional 3,873 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.09% of Varonis Systems worth $4,620,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Virtue Capital Management LLC boosted its position in Varonis Systems by 2.3% in the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after buying an additional 364 shares during the period. Bailard Inc. increased its position in shares of Varonis Systems by 0.4% during the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock worth $4,160,000 after acquiring an additional 417 shares during the period. Arizona State Retirement System raised its stake in shares of Varonis Systems by 1.3% in the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company’s stock valued at $1,445,000 after acquiring an additional 425 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Varonis Systems by 0.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company’s stock valued at $3,352,000 after purchasing an additional 600 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. DA Davidson lowered their price target 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. Morgan Stanley assumed coverage on shares of Varonis Systems in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Piper Sandler decreased their price objective on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company dropped their target price on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.38.

Varonis Systems Price Performance

VRNS stock opened at $41.69 on Thursday. The business has a 50 day simple moving average of $42.85 and a 200-day simple moving average of $48.46. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58. The company has a market capitalization of $4.69 billion, a P/E ratio of -48.48 and a beta of 0.85. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its board has authorized a share buyback 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 usually an indication that the company’s board of directors believes its shares are undervalued.

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.