Summit Global Investments Invests $560,000 in Varonis Systems, Inc. (NASDAQ:VRNS)

Summit Global Investments acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 12,613 shares of the technology company’s stock, valued at approximately $560,000.

Other large investors have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in Varonis Systems by 761.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock valued at $50,026,000 after buying an additional 995,274 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Varonis Systems in the 4th quarter valued at $21,860,000. Wealthfront Advisers LLC bought a new stake in Varonis Systems in the 4th quarter valued at $17,088,000. Two Sigma Advisers LP boosted its stake in Varonis Systems by 46.7% in the 3rd quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock worth $47,415,000 after purchasing an additional 267,000 shares during the period. Finally, Thematics Asset Management increased its holdings in Varonis Systems by 40.2% during the 3rd quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock worth $29,945,000 after purchasing an additional 152,000 shares in the last quarter. 95.65% of the stock is owned by institutional investors.

Varonis Systems Trading Up 0.9 %

VRNS stock opened at $41.38 on Tuesday. Varonis Systems, Inc. has a one year low of $39.11 and a one year high of $60.58. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -48.12 and a beta of 0.85. The company has a fifty day moving average price of $42.99 and a two-hundred day moving average price of $48.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. Equities analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its board has initiated a stock buyback plan on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

VRNS has been the subject of several recent research reports. Wells Fargo & Company reduced their price objective on 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. Morgan Stanley assumed coverage on shares of Varonis Systems in a research note on Tuesday, March 18th. They set an “overweight” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. DA Davidson decreased their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Finally, Jefferies Financial Group cut their price target on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Varonis Systems has an average rating of “Moderate Buy” and an average target price 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.