Varonis and Concentrix partner to enhance AI security for enterprises, protecting sensitive data and addressing cyber threats.
Quiver AI Summary
Varonis Systems, Inc. has partnered with Concentrix Corporation to provide comprehensive solutions for enterprises to safely implement and manage AI technologies while safeguarding sensitive data. This collaboration combines Varonis' expertise in data security with Concentrix's experience serving Fortune Global 500 clients. Together, they aim to mitigate the risks of AI-related data exposure and cyber threats through Varonis’ Data Security Platform, which includes features like automated data classification, vulnerability management, and 24/7 data detection services. The partnership is poised to offer organizations a robust defense against emerging threats associated with AI, highlighting the importance of advanced data protection in the evolving technological landscape.
Potential Positives
- Varonis has formed a strategic partnership with Concentrix, a Fortune 500 company, enhancing its market position and credibility in providing AI-driven data security solutions.
- The collaboration aims to deliver comprehensive solutions that help enterprises mitigate AI-related vulnerabilities, addressing a pressing need in today's cybersecurity landscape.
- Varonis' integration with Concentrix's services allows for advanced data protection features, such as automated data classification and 24/7 Managed Data Detection and Response, making it appealing to organizations concerned about data security in the AI era.
- This partnership potentially expands Varonis' reach and service offerings, as it combines efforts with an established leader in technology solutions, thereby attracting more clientele across various industries.
Potential Negatives
- The press release highlights that AI, LLMs, and agentic AI increase data vulnerability, suggesting that Varonis may be facing significant challenges in its data security offerings.
- The emphasis on the inadequacy of "partial solutions" and the need for "automated, end-to-end data security" implies that current systems may not fully protect clients, potentially affecting customer trust.
- The reliance on a partnership with Concentrix to enhance solutions could indicate that Varonis may not have the resources or capabilities to address these challenges independently.
FAQ
What is the focus of the Varonis and Concentrix partnership?
The partnership aims to provide end-to-end solutions for implementing and harnessing AI safely while protecting sensitive data.
How will Varonis enhance Concentrix's offerings?
Varonis will integrate its Data Security Platform with Concentrix, providing automated data classification and 24/7 Managed Data Detection and Response service.
What are the main concerns regarding AI and data security?
AI, chatbots, and LLMs increase data vulnerabilities, making organizations at risk for data breaches and cyber threats.
Who can benefit from this strategic partnership?
Large enterprises and organizations with sensitive data will benefit from enhanced security measures offered by the partnership.
Where can I find more information about Varonis and Concentrix?
Visit www.varonis.com for Varonis solutions and concentrix.com for information about Concentrix's cybersecurity offerings.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$VRNS Insider Trading Activity
$VRNS insiders have traded $VRNS stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $VRNS stock by insiders over the last 6 months:
- GUY MELAMED (CFO and COO) has made 0 purchases and 2 sales selling 91,345 shares for an estimated $4,905,444.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$VRNS Hedge Fund Activity
We have seen 186 institutional investors add shares of $VRNS stock to their portfolio, and 146 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- LORD, ABBETT & CO. LLC removed 1,607,407 shares (-75.6%) from their portfolio in Q4 2024, for an estimated $71,417,093
- INVESCO LTD. removed 1,536,484 shares (-67.0%) from their portfolio in Q4 2024, for an estimated $68,265,984
- GOLDMAN SACHS GROUP INC added 1,402,437 shares (+76.5%) to their portfolio in Q4 2024, for an estimated $62,310,275
- GREENVALE CAPITAL LLP removed 1,400,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $62,202,000
- ASSENAGON ASSET MANAGEMENT S.A. removed 1,102,014 shares (-97.9%) from their portfolio in Q1 2025, for an estimated $44,576,466
- FULLER & THALER ASSET MANAGEMENT, INC. removed 938,952 shares (-99.8%) from their portfolio in Q4 2024, for an estimated $41,717,637
- MILLENNIUM MANAGEMENT LLC added 889,891 shares (+167.0%) to their portfolio in Q4 2024, for an estimated $39,537,857
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$VRNS Analyst Ratings
Wall Street analysts have issued reports on $VRNS in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Cantor Fitzgerald issued a "Overweight" rating on 01/08/2025
- Piper Sandler issued a "Overweight" rating on 10/30/2024
- Cowen & Co. issued a "Buy" rating on 10/30/2024
- UBS issued a "Buy" rating on 10/23/2024
To track analyst ratings and price targets for $VRNS, check out Quiver Quantitative's $VRNS forecast page.
$VRNS Price Targets
Multiple analysts have issued price targets for $VRNS recently. We have seen 6 analysts offer price targets for $VRNS in the last 6 months, with a median target of $54.5.
Here are some recent targets:
- An analyst from Morgan Stanley set a target price of $54.0 on 03/18/2025
- Joseph Gallo from Jefferies set a target price of $50.0 on 12/19/2024
- Rob Owens from Piper Sandler set a target price of $55.0 on 10/30/2024
- Rudy Kessinger from D.A. Davidson set a target price of $50.0 on 10/30/2024
- Fatima Boolani from UBS set a target price of $70.0 on 10/23/2024
- Shrenik Kothari from Robert W. Baird set a target price of $62.0 on 10/23/2024
Full Release
MIAMI, April 16, 2025 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS) announced a strategic partnership with Concentrix Corporation (NASDAQ: CNXC) to deliver end-to-end solutions to help large enterprises implement and harness AI safely and effectively while protecting what matters most — data.
The partnership brings together two global security leaders. Concentrix is a Fortune 500 company serving 155+ Fortune Global 500 clients. Varonis is the leader and customer favorite in data security trusted by thousands of organizations to protect data wherever it lives.
The companies will provide technology and services to help organizations reduce sensitive data exposure from AI agents, chatbots, and LLMs, and address AI-driven cyber threats. Varonis’ Data Security Platform will integrate with Concentrix, offering automated data classification, remediation, alerting, and AI readiness monitoring while providing customers with 24/7 Managed Data Detection and Response service.
"AI is transforming business performance, but it’s also introducing new vulnerabilities and placing critical data at risk," said Ryan Peterson, Chief Product Officer at Concentrix. "Our partnership with Varonis enables us to bring to market a robust, turnkey solution that leverages best-in-class automated data security to stop threats before they start. Whether it’s threat detection, vulnerability management, or compliance assurance, we provide our clients with unparalleled security, efficiency, and operational excellence.”
"AI, LLMs, and agentic AI increase data vulnerability," stated Varonis Vice Chairman of Sales Jim O’Boyle. "Endpoint security, MFA, and other technologies are important but don't prevent data breaches. Partial solutions that discover issues or sample data are inadequate. Only automated, end-to-end data security backed by a dedicated team can protect data in the AI era — and that’s why we are thrilled to collaborate with Concentrix.”
Additional Resources
- Find out more about Concentrix's Cybersecurity offerings .
- For more information on Varonis' solution portfolio, please visit www.varonis.com .
About Concentrix:
Powering a World That Works
Concentrix Corporation (NASDAQ: CNXC), a
Fortune
500
®
company, is the global technology and services leader that powers the world’s best brands, today and into the future. We’re solution-focused, tech-powered, intelligence-fueled. Every day, we design, build, and run fully integrated, end-to-end solutions at speed and scale across the entire enterprise, helping over 2,000 clients solve their toughest business challenges. With unique data and insights, deep industry expertise, and advanced technology solutions, we’re the intelligent transformation partner that powers a world that works, helping companies become refreshingly simple to work, interact, and transact with. Delivering outcomes unimagined across every major vertical in 70+ markets. Virtually everywhere. Visit
concentrix.com
to learn more.
About Varonis
Varonis
(Nasdaq: VRNS) is the leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.
Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), AI security, and insider risk management.
Varonis protects data first, not last. Learn more at www.varonis.com .
Varonis Investor Relations Contact:
Tim Perz
Varonis Systems, Inc.
646-640-2112
[email protected]
Varonis News Media Contact:
Rachel Hunt
Varonis Systems, Inc.
877-292-8767 (ext. 1598)
[email protected]
Concentrix Public Relations Contact:
Concentrix Media
[email protected]
From Fortune ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 500 are registered trademarks of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of, Concentrix.
