Pier Capital LLC Has $7.13 Million Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Pier Capital LLC grew its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 160,518 shares of the technology company’s stock after purchasing an additional 3,965 shares during the quarter. Pier Capital LLC’s holdings in Varonis Systems were worth $7,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after buying an additional 603 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Varonis Systems during the 3rd quarter worth about $184,000. R Squared Ltd acquired a new position in shares of Varonis Systems during the 4th quarter worth about $194,000. KBC Group NV raised its holdings in shares of Varonis Systems by 45.6% in the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after purchasing an additional 1,488 shares during the period. Finally, Atom Investors LP acquired a new stake in Varonis Systems in the 3rd quarter valued at about $224,000. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Up 0.9 %

Shares of VRNS opened at $41.38 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a 12 month low of $39.11 and a 12 month high of $60.58. The firm’s 50 day moving average is $42.99 and its 200-day moving average is $48.57. The stock has a market capitalization of $4.66 billion, a PE ratio of -48.12 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data 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 return on equity of 20.35% and a negative net margin of 17.38%. Equities research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its board has authorized a stock buyback program on Monday, February 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on 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 started coverage on Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. Citigroup dropped their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus 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.