StockNews.com Begins Coverage on SecureWorks (NASDAQ:SCWX)

Research analysts at StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a note issued to investors on Wednesday. The firm set a “hold” rating on the technology company’s stock.

A number of other brokerages have also recently commented on SCWX. Barclays boosted their price target on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Stock Performance

Shares of NASDAQ:SCWX opened at $8.46 on Wednesday. The firm has a market capitalization of $751.48 million, a P/E ratio of -8.55 and a beta of 1.00. The stock has a 50 day moving average price of $8.35 and a 200-day moving average price of $7.66. SecureWorks has a 52-week low of $5.61 and a 52-week high of $9.76.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SCWX. Marshall Wace LLP grew its position in SecureWorks by 11.6% during the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after buying an additional 5,205 shares during the period. Scalar Gauge Management LLC raised its holdings in SecureWorks by 18.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock worth $2,213,000 after purchasing an additional 50,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in SecureWorks by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after purchasing an additional 16,327 shares during the period. Oppenheimer Asset Management Inc. increased its position in SecureWorks by 107.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after buying an additional 19,735 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new position in shares of SecureWorks in the second quarter worth about $127,000. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.