Hillsdale Investment Management Inc. Raises Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Hillsdale Investment Management Inc. boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,440 shares of the technology company’s stock after purchasing an additional 600 shares during the period. Hillsdale Investment Management Inc. owned about 0.07% of Varonis Systems worth $3,352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors LLC lifted its position in shares of Varonis Systems by 138.9% during the 3rd quarter. Natixis Advisors LLC now owns 28,490 shares of the technology company’s stock valued at $1,610,000 after buying an additional 16,565 shares during the last quarter. Swiss National Bank lifted its holdings in Varonis Systems by 1.3% during the third quarter. Swiss National Bank now owns 217,754 shares of the technology company’s stock valued at $12,303,000 after purchasing an additional 2,700 shares during the last quarter. Intech Investment Management LLC bought a new position in Varonis Systems during the third quarter worth about $1,801,000. Charles Schwab Investment Management Inc. increased its stake in shares of Varonis Systems by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock worth $54,405,000 after purchasing an additional 59,218 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Varonis Systems by 88.4% in the third quarter. Citigroup Inc. now owns 105,429 shares of the technology company’s stock valued at $5,957,000 after purchasing an additional 49,472 shares during the period. 95.65% of the stock is owned by institutional investors.

Varonis Systems Trading Down 1.3 %

NASDAQ VRNS opened at $41.00 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock’s 50-day simple moving average is $43.05 and its two-hundred day simple moving average is $48.69. 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 $4.61 billion, a price-to-earnings ratio of -47.67 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last released its earnings results 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%. Research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has approved a share repurchase program on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. DA Davidson cut their price objective 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. Citigroup reduced their price target on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. StockNews.com upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Cantor Fitzgerald initiated coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price for the company. Finally, Piper Sandler decreased their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Six research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.38.

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.