SecureWorks (NASDAQ:SCWX) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report released on Monday morning. The firm issued a hold rating on the technology company’s stock.

SecureWorks Price Performance

Shares of SecureWorks stock opened at $8.51 on Monday. The business has a 50 day moving average of $8.50 and a 200 day moving average of $8.36. SecureWorks has a 52 week low of $5.61 and a 52 week high of $9.76. The company has a market cap of $755.94 million, a PE ratio of -8.60 and a beta of 0.94.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Gardner Lewis Asset Management L P purchased a new stake in SecureWorks during the 4th quarter valued at $10,795,000. FIL Ltd purchased a new position in shares of SecureWorks during the fourth quarter valued at approximately $6,392,000. Alpine Associates Management Inc. purchased a new position in shares of SecureWorks during the fourth quarter valued at approximately $5,273,000. Alberta Investment Management Corp bought a new position in SecureWorks during the fourth quarter valued at approximately $5,076,000. Finally, Nexpoint Asset Management L.P. purchased a new stake in SecureWorks in the fourth quarter worth approximately $4,395,000. Hedge funds and other institutional investors own 14.38% of the company’s stock.

About SecureWorks

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions; managed security services; and professional services, including incident response and penetration testing services.