SecureWorks (NASDAQ:SCWX) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued to investors on Saturday morning. The firm issued a hold rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. Barclays lifted their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd.

SecureWorks Stock Performance

Shares of SCWX stock opened at $8.37 on Friday. The firm’s 50 day moving average is $8.14 and its 200 day moving average is $7.30. The stock has a market capitalization of $743.51 million, a P/E ratio of -9.85 and a beta of 1.00. SecureWorks has a 12 month low of $5.61 and a 12 month high of $9.76.

SecureWorks (NASDAQ:SCWX) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $82.18 million for the quarter, compared to the consensus estimate of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. On average, equities analysts predict that SecureWorks will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SCWX. Royce & Associates LP grew its stake in shares of SecureWorks by 2.5% in the 3rd quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock worth $11,722,000 after buying an additional 32,929 shares during the last quarter. Scalar Gauge Management LLC boosted its holdings in SecureWorks by 16.4% in the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after acquiring an additional 51,869 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in SecureWorks by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after acquiring an additional 16,327 shares in the last quarter. Kovack Advisors Inc. grew its stake in shares of SecureWorks by 12.7% in the third quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock worth $2,899,000 after acquiring an additional 36,816 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of SecureWorks by 22.3% during the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock valued at $1,271,000 after acquiring an additional 33,100 shares in the last quarter. Hedge funds and other institutional investors own 14.38% of the company’s stock.

SecureWorks Company Profile

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.