Bank of Montreal Can increased its holdings in shares of Varonis Systems Inc (NASDAQ:VRNS) by 18.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,899 shares of the technology company’s stock after acquiring an additional 4,245 shares during the period. Bank of Montreal Can owned approximately 0.09% of Varonis Systems worth $1,971,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. AMP Capital Investors Ltd acquired a new stake in shares of Varonis Systems during the 2nd quarter valued at about $209,000. First Republic Investment Management Inc. acquired a new stake in shares of Varonis Systems during the 2nd quarter valued at about $213,000. Capital Fund Management S.A. acquired a new stake in shares of Varonis Systems during the 2nd quarter valued at about $238,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Varonis Systems during the 2nd quarter valued at about $260,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Varonis Systems during the 2nd quarter valued at about $261,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.
Shares of Varonis Systems stock opened at $60.26 on Friday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -120.52 and a beta of 0.95. Varonis Systems Inc has a twelve month low of $46.35 and a twelve month high of $83.10.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, October 29th. The technology company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.23. The firm had revenue of $67.05 million for the quarter, compared to analyst estimates of $64.47 million. Varonis Systems had a negative net margin of 11.53% and a negative return on equity of 26.27%. Varonis Systems’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period last year, the company posted $0.06 EPS. As a group, equities analysts anticipate that Varonis Systems Inc will post -0.9 earnings per share for the current fiscal year.
In related news, CFO Guy Melamed sold 844 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $72.35, for a total value of $61,063.40. Following the transaction, the chief financial officer now directly owns 130,212 shares of the company’s stock, valued at approximately $9,420,838.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.20% of the company’s stock.
VRNS has been the topic of a number of analyst reports. Needham & Company LLC raised their target price on Varonis Systems to $90.00 and gave the company a “buy” rating in a research report on Monday, September 17th. BidaskClub upgraded Varonis Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 5th. Wedbush initiated coverage on Varonis Systems in a research report on Thursday, October 18th. They set a “neutral” rating and a $65.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and set a $92.00 target price on shares of Varonis Systems in a research report on Friday, July 20th. Finally, Stifel Nicolaus restated a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Varonis Systems in a research report on Tuesday, July 31st. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $73.88.
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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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