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

Equities research analysts at StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the technology company’s stock.

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

SecureWorks Stock Up 0.1 %

NASDAQ SCWX opened at $8.43 on Friday. The company’s 50 day moving average is $8.42 and its 200-day moving average is $7.93. The firm has a market cap of $748.82 million, a P/E ratio of -8.52 and a beta of 0.94. SecureWorks has a 12-month low of $5.61 and a 12-month high of $9.76.

Hedge Funds Weigh In On SecureWorks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its position in SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after buying an additional 19,735 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 16,327 shares during the period. Renaissance Technologies LLC increased its stake in shares of SecureWorks by 22.3% in the second 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 period. King Luther Capital Management Corp bought a new position in shares of SecureWorks during the second quarter valued at about $411,000. Finally, Marshall Wace LLP lifted its holdings in SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after buying an additional 5,205 shares during the period. 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.