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

Analysts at StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued on Wednesday. The firm set a “hold” rating on the technology company’s stock.

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

SecureWorks Price Performance

SCWX opened at $8.51 on Wednesday. The company has a market cap of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94. The firm has a 50 day simple moving average of $8.46 and a 200 day simple moving average of $8.15. SecureWorks has a fifty-two week low of $5.61 and a fifty-two week high of $9.76.

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

Institutional Investors Weigh In On SecureWorks

Several large investors have recently bought and sold shares of SCWX. Geode Capital Management LLC increased 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 worth $1,420,000 after acquiring an additional 19,766 shares in the last quarter. State Street Corp increased its position in shares of SecureWorks by 5.5% during the third quarter. State Street Corp now owns 44,227 shares of the technology company’s stock worth $391,000 after acquiring an additional 2,300 shares in the last quarter. FMR LLC increased its position 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 acquiring an additional 3,964 shares in the last quarter. Kovack Advisors Inc. increased its position in shares of SecureWorks by 12.7% during the third quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock worth $2,899,000 after acquiring an additional 36,816 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SecureWorks by 37.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,754 shares of the technology company’s stock worth $555,000 after acquiring an additional 17,077 shares in 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.