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

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

SCWX has been the subject of a number of other reports. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. Barclays upped their target price on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th.

SecureWorks Stock Up 0.4 %

Shares of SCWX stock opened at $8.39 on Friday. The firm has a 50 day moving average of $8.19 and a 200-day moving average of $7.40. The company has a market cap of $745.28 million, a price-to-earnings ratio of -9.87 and a beta of 1.00. SecureWorks has a 52 week low of $5.61 and a 52 week high of $9.76.

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

Institutional Trading of SecureWorks

Several institutional investors have recently made changes to their positions in SCWX. Jaffetilchin Investment Partners LLC bought a new stake in shares of SecureWorks in the 2nd quarter worth $127,000. Oppenheimer Asset Management Inc. grew its stake in shares of SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after acquiring an additional 19,735 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SecureWorks by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after buying an additional 16,327 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of SecureWorks by 22.3% in the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock worth $1,271,000 after buying an additional 33,100 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of SecureWorks in the 2nd quarter worth about $411,000. 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.