Zurcher Kantonalbank Zurich Cantonalbank Has $2.55 Million Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,458 shares of the technology company’s stock after purchasing an additional 1,370 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Varonis Systems worth $2,553,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC raised its holdings in Varonis Systems by 107.1% in the fourth quarter. AlphaQuest LLC now owns 11,978 shares of the technology company’s stock worth $532,000 after purchasing an additional 6,195 shares during the period. Edgestream Partners L.P. increased its position in shares of Varonis Systems by 52.3% during the fourth quarter. Edgestream Partners L.P. now owns 86,526 shares of the technology company’s stock worth $3,844,000 after acquiring an additional 29,729 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Varonis Systems during the fourth quarter worth $21,860,000. Arizona State Retirement System increased its position in shares of Varonis Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company’s stock worth $1,445,000 after acquiring an additional 425 shares in the last quarter. Finally, Aigen Investment Management LP increased its position in shares of Varonis Systems by 939.6% during the fourth quarter. Aigen Investment Management LP now owns 44,993 shares of the technology company’s stock worth $1,999,000 after acquiring an additional 40,665 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Stock Performance

Shares of VRNS opened at $40.01 on Monday. The firm has a 50-day moving average of $43.35 and a 200-day moving average of $49.16. Varonis Systems, Inc. has a one year low of $39.11 and a one year high of $60.58. The company has a market cap of $4.50 billion, a PE ratio of -46.52 and a beta of 0.85. 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 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 net margin of 17.38% and a negative return on equity of 20.35%. As a group, equities analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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

Analyst Ratings Changes

VRNS has been the subject of several research reports. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. DA Davidson lowered their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. 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 for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Finally, Piper Sandler decreased their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.38.

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.