Connor Clark & Lunn Investment Management Ltd. Purchases 17,077 Shares of SecureWorks Corp. (NASDAQ:SCWX)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in SecureWorks Corp. (NASDAQ:SCWX) by 37.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,754 shares of the technology company’s stock after purchasing an additional 17,077 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of SecureWorks worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCWX. Jaffetilchin Investment Partners LLC purchased a new position in shares of SecureWorks during the second quarter valued at approximately $127,000. Oppenheimer Asset Management Inc. raised its stake in SecureWorks by 107.0% during the 2nd 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. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 16,327 shares during the period. Renaissance Technologies LLC boosted its stake in shares of SecureWorks by 22.3% in the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock worth $1,271,000 after buying an additional 33,100 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new position in SecureWorks in the second quarter worth about $411,000. 14.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. StockNews.com began coverage on shares of SecureWorks in a report on Sunday, November 24th. They set a “hold” rating for the company. Finally, Barclays raised their target price on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th.

SecureWorks Price Performance

Shares of SCWX opened at $8.44 on Friday. SecureWorks Corp. has a 1 year low of $5.61 and a 1 year high of $9.76. The company has a 50 day simple moving average of $8.24 and a two-hundred day simple moving average of $7.46. The firm has a market cap of $749.73 million, a P/E ratio of -9.93 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $82.18 million for the quarter, compared to the consensus estimate of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. On average, sell-side analysts anticipate that SecureWorks Corp. will post -0.29 earnings per share for the current year.

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.