Semanteon Capital Management LP Purchases 12,599 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Semanteon Capital Management LP boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 63.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,442 shares of the technology company’s stock after acquiring an additional 12,599 shares during the quarter. Semanteon Capital Management LP’s holdings in Varonis Systems were worth $1,441,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP increased its stake in Varonis Systems by 61.4% in the third quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock valued at $6,422,000 after acquiring an additional 43,258 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Varonis Systems in the third quarter valued at approximately $1,872,000. Barclays PLC grew its stake in shares of Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock worth $22,007,000 after buying an additional 35,274 shares during the last quarter. Citigroup Inc. grew its stake in shares of Varonis Systems by 88.4% during the third quarter. Citigroup Inc. now owns 105,429 shares of the technology company’s stock worth $5,957,000 after buying an additional 49,472 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after buying an additional 147,081 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

Varonis Systems Price Performance

Shares of VRNS opened at $41.54 on Friday. The firm has a market cap of $4.68 billion, a PE ratio of -48.30 and a beta of 0.85. Varonis Systems, Inc. has a 52-week low of $39.11 and a 52-week high of $60.58. The business’s 50 day moving average price is $43.13 and its two-hundred day moving average price is $48.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (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%. On average, 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 stock repurchase plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

VRNS has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Wells Fargo & Company decreased their target price on shares of 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. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price on the stock. Finally, Morgan Stanley assumed coverage on shares of Varonis Systems in a research note on Tuesday. They set an “overweight” rating for the company. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.