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

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

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

SecureWorks Price Performance

Shares of SCWX opened at $8.51 on Tuesday. The stock has a market capitalization of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94. SecureWorks has a 1 year low of $5.61 and a 1 year high of $9.76. The business’s 50 day simple moving average is $8.46 and its 200-day simple moving average is $8.11.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings data on Wednesday, December 4th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). SecureWorks had a negative return on equity of 5.71% and a negative net margin of 25.49%. On average, sell-side analysts expect that SecureWorks will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On SecureWorks

Several large investors have recently modified their holdings of SCWX. Dimensional Fund Advisors LP increased its position in shares of SecureWorks by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after purchasing an additional 16,327 shares during the last quarter. Marshall Wace LLP grew its position in 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 last quarter. Squarepoint Ops LLC bought a new position in SecureWorks in the 2nd quarter valued at $121,000. Inspire Investing LLC bought a new position in SecureWorks in the 3rd quarter valued at $449,000. Finally, Kovack Advisors Inc. grew its position in SecureWorks by 12.7% in the 3rd quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock valued at $2,899,000 after acquiring an additional 36,816 shares during the last quarter. 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.