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

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

Several other research firms have also commented on SCWX. Barclays increased their price objective on shares of 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 reiterated a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd.

SecureWorks Price Performance

Shares of SCWX opened at $8.46 on Thursday. The stock has a market capitalization of $751.48 million, a price-to-earnings ratio of -8.55 and a beta of 1.00. 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 $8.40 and its 200-day simple moving average is $7.76.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new stake in shares of SecureWorks in the second quarter valued at $121,000. Jaffetilchin Investment Partners LLC purchased a new stake in SecureWorks in the 2nd quarter worth about $127,000. FMR LLC lifted its stake in SecureWorks by 22.3% in the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after purchasing an additional 3,964 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of SecureWorks by 107.0% during the second 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 period. Finally, Marshall Wace LLP grew its stake in shares of SecureWorks by 11.6% during the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after buying an additional 5,205 shares during the last quarter. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.