Northern Trust Corp Has $24.67 Million Stake in Varonis Systems Inc (VRNS)

Northern Trust Corp lifted its holdings in shares of Varonis Systems Inc (NASDAQ:VRNS) by 34.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,124 shares of the technology company’s stock after buying an additional 84,281 shares during the period. Northern Trust Corp’s holdings in Varonis Systems were worth $24,670,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. AMP Capital Investors Ltd acquired a new position in shares of Varonis Systems during the second quarter worth approximately $209,000. First Republic Investment Management Inc. acquired a new stake in Varonis Systems in the second quarter worth approximately $213,000. Capital Fund Management S.A. acquired a new stake in Varonis Systems in the second quarter worth approximately $238,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Varonis Systems in the second quarter worth approximately $260,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in Varonis Systems in the second quarter worth approximately $261,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

NASDAQ VRNS opened at $61.85 on Friday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -123.74 and a beta of 0.74. Varonis Systems Inc has a 1 year low of $41.75 and a 1 year high of $83.10.



Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, July 30th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The company had revenue of $62.19 million during the quarter, compared to the consensus estimate of $62.20 million. Varonis Systems had a negative net margin of 10.52% and a negative return on equity of 23.77%. Varonis Systems’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) EPS. On average, equities research analysts forecast that Varonis Systems Inc will post -0.93 EPS for the current fiscal year.

In other Varonis Systems news, CFO Guy Melamed sold 1,616 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $72.86, for a total value of $117,741.76. Following the transaction, the chief financial officer now owns 130,212 shares of the company’s stock, valued at $9,487,246.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas F. Mendoza purchased 1,688 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was bought at an average cost of $59.58 per share, for a total transaction of $100,571.04. Following the acquisition, the director now directly owns 22,511 shares of the company’s stock, valued at approximately $1,341,205.38. The disclosure for this purchase can be found here. 4.20% of the stock is currently owned by corporate insiders.

A number of research firms have weighed in on VRNS. Jefferies Financial Group restated a “buy” rating and issued a $92.00 target price on shares of Varonis Systems in a research report on Friday, July 20th. BidaskClub downgraded Varonis Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th. Barclays cut their target price on Varonis Systems from $79.00 to $74.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 target price on shares of Varonis Systems in a research report on Monday, July 30th. Finally, Needham & Company LLC upped their target price on Varonis Systems to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $73.82.

About Varonis Systems

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Institutional Ownership by Quarter for Varonis Systems (NASDAQ:VRNS)

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