Man Group plc Grows Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Man Group plc increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 128.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 352,629 shares of the technology company’s stock after purchasing an additional 198,001 shares during the period. Man Group plc owned approximately 0.31% of Varonis Systems worth $15,667,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Varonis Systems in the 4th quarter valued at $36,000. Johnson Financial Group Inc. purchased a new stake in Varonis Systems during the 4th quarter valued at $61,000. Transce3nd LLC purchased a new stake in Varonis Systems during the 4th quarter valued at $62,000. New Age Alpha Advisors LLC purchased a new stake in Varonis Systems during the 4th quarter valued at $70,000. Finally, Pacer Advisors Inc. boosted 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 buying an additional 603 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analyst Ratings Changes

VRNS has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Wells Fargo & Company dropped their price target on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada increased their price target on shares of Varonis Systems from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Wolfe Research upgraded shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Friday, March 28th. Finally, UBS Group upped their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

Varonis Systems Stock Up 1.4%

Shares of Varonis Systems stock opened at $46.32 on Friday. 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 company has a 50-day moving average of $41.87 and a 200 day moving average of $44.68. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of -53.86 and a beta of 0.79. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The business had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The firm’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) earnings per share. As a group, 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 approved a stock buyback plan on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is 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.