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

Stock analysts at StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a report released on Saturday. The firm set a “hold” rating on the technology company’s stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Stock Up 0.1 %

Shares of NASDAQ:SCWX opened at $8.43 on Friday. The company has a market capitalization of $748.82 million, a price-to-earnings ratio of -8.52 and a beta of 0.94. The firm has a 50 day moving average of $8.42 and a 200 day moving average of $7.96. SecureWorks has a 52 week low of $5.61 and a 52 week high of $9.76.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Royce & Associates LP boosted its stake in SecureWorks by 2.5% in the third quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock valued at $11,722,000 after acquiring an additional 32,929 shares in the last quarter. Scalar Gauge Management LLC lifted its holdings in shares of SecureWorks by 16.4% during the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after purchasing an additional 51,869 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of SecureWorks by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after purchasing an additional 16,327 shares in the last quarter. Kovack Advisors Inc. grew its stake in SecureWorks by 12.7% during the 3rd quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock worth $2,899,000 after buying an additional 36,816 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in SecureWorks by 22.3% during the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock valued at $1,271,000 after buying an additional 33,100 shares in the last quarter. 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.