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

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

Other equities research analysts also recently issued reports about the stock. Barclays increased their price objective 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. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd.

SecureWorks Stock Performance

Shares of SCWX stock remained flat at $8.37 on Friday. The stock had a trading volume of 60,449 shares, compared to its average volume of 75,244. The company has a market capitalization of $743.51 million, a PE 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. The firm’s 50 day moving average price is $8.09 and its 200 day moving average price is $7.22.

SecureWorks (NASDAQ:SCWX) last announced its earnings results on Thursday, September 5th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 business had revenue of $82.18 million for the quarter, compared to analyst estimates of $80.98 million. As a group, analysts anticipate that SecureWorks will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP raised its position in shares of SecureWorks by 2.5% during the third quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock worth $11,722,000 after purchasing an additional 32,929 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of SecureWorks by 1.5% in the first quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock valued at $5,992,000 after buying an additional 13,551 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 buying an additional 16,327 shares during the last quarter. Kovack Advisors Inc. increased its position in shares of SecureWorks by 12.7% during 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 in the last quarter. Finally, Scalar Gauge Management LLC raised its holdings in shares of 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 acquiring an additional 50,000 shares during the last quarter. 14.38% of the stock is owned by institutional investors and hedge funds.

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.