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

Equities researchers at StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the technology company’s stock.

SCWX has been the topic of several other reports. Barclays upped their price objective on 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 Price Performance

SCWX opened at $8.44 on Friday. The firm has a market capitalization of $749.71 million, a price-to-earnings ratio of -8.53 and a beta of 0.94. The company’s 50 day moving average price is $8.42 and its two-hundred day moving average price is $7.85. SecureWorks has a fifty-two week low of $5.61 and a fifty-two week high of $9.76.

Hedge Funds Weigh In On SecureWorks

A number of large investors have recently made changes to their positions in SCWX. Squarepoint Ops LLC purchased a new stake in shares of SecureWorks in the second quarter worth approximately $121,000. FMR LLC grew its holdings in shares of SecureWorks by 22.3% in the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after purchasing an additional 3,964 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in SecureWorks by 107.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after buying an additional 19,735 shares in the last quarter. State Street Corp boosted its position in SecureWorks by 5.5% in the 3rd quarter. State Street Corp now owns 44,227 shares of the technology company’s stock valued at $391,000 after buying an additional 2,300 shares during the period. Finally, DRW Securities LLC bought a new position in SecureWorks in the 3rd quarter worth about $407,000. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.