Groupama Asset Managment Invests $55.54 Million in Varonis Systems, Inc. (NASDAQ:VRNS)

Groupama Asset Managment purchased a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,250,000 shares of the technology company’s stock, valued at approximately $55,538,000.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Varonis Systems during the 4th quarter worth about $56,561,000. Assenagon Asset Management S.A. raised its holdings in Varonis Systems by 761.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after purchasing an additional 995,274 shares during the period. Raymond James Financial Inc. purchased a new position in Varonis Systems during the fourth quarter worth approximately $21,860,000. Wealthfront Advisers LLC acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $17,088,000. Finally, Two Sigma Advisers LP increased its position in shares of Varonis Systems by 46.7% in the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after buying an additional 267,000 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VRNS. Morgan Stanley assumed coverage on Varonis Systems in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Needham & Company LLC reissued a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Wolfe Research upgraded shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Friday. Finally, Jefferies Financial Group lowered their price objective on Varonis Systems from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and an average price target of $58.53.

Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $40.45 on Tuesday. The business’s 50 day moving average price is $42.64 and its 200 day moving average price is $48.22. The company has a market cap of $4.55 billion, a price-to-earnings ratio of -47.03 and a beta of 0.85. 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, Inc. has a one year low of $39.11 and a one year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate 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%. On average, research analysts predict 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 permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.