WCM Investment Management LLC Has $17.80 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

WCM Investment Management LLC lifted its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 30.8% during the fourth quarter, HoldingsChannel reports. The fund owned 405,321 shares of the technology company’s stock after purchasing an additional 95,531 shares during the quarter. WCM Investment Management LLC’s holdings in Varonis Systems were worth $17,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VRNS. Farther Finance Advisors LLC grew its stake in Varonis Systems by 445.3% in the third 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 in the last quarter. 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 buying an additional 603 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after buying an additional 2,442 shares during the last quarter. KBC Group NV raised its position in Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after acquiring an additional 663 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Varonis Systems in the third quarter valued at approximately $184,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Varonis Systems

In other news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on VRNS. Citigroup dropped their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. increased their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Robert W. Baird increased their price objective on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group reduced their target price on Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.38.

Varonis Systems Stock Up 1.4 %

NASDAQ VRNS opened at $40.59 on Monday. Varonis Systems, Inc. has a twelve month low of $39.62 and a twelve month high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market cap of $4.57 billion, a PE ratio of -47.20 and a beta of 0.83. The firm has a 50-day simple moving average of $45.68 and a 200 day simple moving average of $51.21.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data 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 return on equity of 20.45% and a negative net margin of 17.38%. On average, research analysts forecast that Varonis Systems, Inc. will post -0.74 EPS for the current year.

Varonis Systems 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.