Transce3nd LLC Makes New $62,000 Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

Transce3nd LLC purchased a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the 4th quarter, Holdings Channel reports. The fund purchased 1,400 shares of the technology company’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VRNS. Barclays PLC grew its position in Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock valued at $22,007,000 after buying an additional 35,274 shares during the period. Tidal Investments LLC bought a new stake in shares of Varonis Systems during the 3rd quarter valued at $232,000. Franklin Resources Inc. increased its stake in shares of Varonis Systems by 14.5% in the 3rd quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company’s stock worth $2,383,000 after purchasing an additional 5,031 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after purchasing an additional 147,081 shares during the period. Finally, Diversified Trust Co lifted its position in Varonis Systems by 12.2% during the fourth quarter. Diversified Trust Co now owns 15,113 shares of the technology company’s stock valued at $671,000 after purchasing an additional 1,639 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $39.42 on Tuesday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -45.84 and a beta of 0.76. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58. The stock’s 50 day simple moving average is $41.34 and its two-hundred day simple moving average is $46.46. 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) earnings per share 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%. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its board has approved a stock buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have commented on VRNS shares. Jefferies Financial Group reduced their price target on Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Barclays decreased their target price on shares of Varonis Systems from $60.00 to $52.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Citigroup dropped their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus price target of $57.11.

About Varonis Systems

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.