SecureWorks (NASDAQ:SCWX) Research Coverage Started at StockNews.com

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

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

SecureWorks Stock Performance

SCWX stock opened at $8.44 on Friday. The stock has a market capitalization of $749.71 million, a price-to-earnings ratio of -8.53 and a beta of 0.94. The firm’s 50-day moving average price is $8.42 and its two-hundred day moving average price is $7.87. SecureWorks has a 12-month low of $5.61 and a 12-month high of $9.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SCWX. Geode Capital Management LLC boosted its position in shares of SecureWorks by 14.1% during the third quarter. Geode Capital Management LLC now owns 160,430 shares of the technology company’s stock valued at $1,420,000 after purchasing an additional 19,766 shares in the last quarter. State Street Corp lifted its position in SecureWorks by 5.5% during the third 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. Atom Investors LP boosted its holdings in shares of SecureWorks by 14.6% during the 3rd quarter. Atom Investors LP now owns 85,186 shares of the technology company’s stock valued at $754,000 after buying an additional 10,823 shares in the last quarter. Scalar Gauge Management LLC grew its position in shares of SecureWorks by 16.4% in the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after buying an additional 51,869 shares during the period. Finally, FMR LLC increased its stake in shares of SecureWorks by 22.3% in the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after acquiring an additional 3,964 shares in the last quarter. Hedge funds and other 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.