Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Even with a lack of notable news today, shares of Varonis Systems, Inc. (NASDAQ:VRNS) gradually drifted higher on low volume to close up nearly 15% Monday.

So what: Part of it can be chalked up to broader strength in the tech sector, but such a significant rise on lower-than-average volume could mean a large institutional investor wanted in today. After all, Varonis stock has been punished in recent weeks since the company's first-quarter results handily exceeded analysts' expectations. Varonis also provided better-than-expected forward guidance.

Now what: It's apparent not every investor completely buys into Varonis' long-term story, which centers on organizing human-generated enterprise data like spreadsheets, emails, and word processing documents. For now, I remain in that camp, so am happy keeping Varonis on my watch list. But if Varonis can truly convince the market of the need for its innovative solutions as it strives to achieve sustained profitability, I'll readily admit the stock could handsomely reward patient shareholders down the road.

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Steve Symington and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.