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

Investment analysts at StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the technology company’s stock.

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

SecureWorks Price Performance

SCWX opened at $8.45 on Tuesday. The firm has a market capitalization of $750.61 million, a PE ratio of -8.54 and a beta of 1.00. The business’s 50-day moving average is $8.32 and its two-hundred day moving average is $7.60. SecureWorks has a 1 year low of $5.61 and a 1 year high of $9.76.

Institutional Investors Weigh In On SecureWorks

A number of large investors have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in SecureWorks in the 2nd quarter worth approximately $121,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of SecureWorks in the second quarter worth $127,000. FMR LLC lifted its stake in shares of SecureWorks by 22.3% during the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after buying an additional 3,964 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of SecureWorks by 107.0% during the second 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 during the last quarter. Finally, Marshall Wace LLP increased its position in shares of SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after acquiring an additional 5,205 shares during the period. 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.