Congress Asset Management Co. MA raised its holdings in Varonis Systems Inc (NASDAQ:VRNS) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 54,998 shares of the technology company’s stock after acquiring an additional 1,692 shares during the quarter. Congress Asset Management Co. MA’s holdings in Varonis Systems were worth $4,029,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Federated Investors Inc. PA increased its position in shares of Varonis Systems by 3.2% during the 2nd quarter. Federated Investors Inc. PA now owns 29,507 shares of the technology company’s stock valued at $2,198,000 after purchasing an additional 922 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Varonis Systems by 12.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 565,230 shares of the technology company’s stock valued at $42,110,000 after purchasing an additional 63,119 shares during the last quarter. BlackRock Inc. increased its position in shares of Varonis Systems by 11.8% during the 2nd quarter. BlackRock Inc. now owns 1,970,923 shares of the technology company’s stock valued at $146,835,000 after purchasing an additional 207,953 shares during the last quarter. Atria Investments LLC bought a new position in shares of Varonis Systems during the 2nd quarter valued at about $266,000. Finally, Swiss National Bank increased its position in shares of Varonis Systems by 84.8% during the 2nd quarter. Swiss National Bank now owns 49,018 shares of the technology company’s stock valued at $3,652,000 after purchasing an additional 22,500 shares during the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.
In other Varonis Systems news, CFO Guy Melamed sold 844 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $72.35, for a total value of $61,063.40. Following the completion of the sale, the chief financial officer now owns 130,212 shares in the company, valued at approximately $9,420,838.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas F. Mendoza acquired 1,688 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was acquired at an average price of $59.58 per share, with a total value of $100,571.04. Following the acquisition, the director now owns 22,511 shares in the company, valued at approximately $1,341,205.38. The disclosure for this purchase can be found here. Company insiders own 4.20% of the company’s stock.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, October 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.23. Varonis Systems had a negative return on equity of 23.77% and a negative net margin of 10.52%. The business had revenue of $67.05 million for the quarter, compared to analyst estimates of $64.47 million. During the same period last year, the company earned $0.06 EPS. Varonis Systems’s revenue for the quarter was up 25.7% compared to the same quarter last year. On average, analysts predict that Varonis Systems Inc will post -0.93 earnings per share for the current year.
Several equities analysts have recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Varonis Systems in a research report on Tuesday, July 31st. BidaskClub lowered Varonis Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Craig Hallum set a $68.00 price objective on Varonis Systems and gave the company a “hold” rating in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Barclays reduced their price target on Varonis Systems from $79.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 31st. Finally, TheStreet lowered Varonis Systems from a “c” rating to a “d+” rating in a research report on Tuesday, July 31st. Six equities 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 company presently has an average rating of “Buy” and an average price target of $73.82.
Varonis Systems Profile
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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