SecureWorks (NASDAQ:SCWX) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report released on Wednesday. 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 research note on Tuesday, October 22nd.

SecureWorks Stock Performance

SCWX opened at $8.51 on Wednesday. The stock has a market capitalization of $755.94 million, a P/E ratio of -8.60 and a beta of 0.94. SecureWorks has a 12 month low of $5.61 and a 12 month high of $9.76. The firm’s fifty day simple moving average is $8.46 and its 200 day simple moving average is $8.15.

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

Hedge Funds Weigh In On SecureWorks

Several hedge funds have recently modified their holdings of the stock. Royce & Associates LP boosted its position in SecureWorks by 2.5% during the third quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock valued at $11,722,000 after purchasing an additional 32,929 shares during the last quarter. Gardner Lewis Asset Management L P acquired a new stake in shares of SecureWorks in the 4th quarter valued at approximately $10,795,000. Alpine Associates Management Inc. bought a new position in shares of SecureWorks in the fourth quarter valued at $5,273,000. Alberta Investment Management Corp bought a new position in shares of SecureWorks in the fourth quarter valued at $5,076,000. Finally, Scalar Gauge Management LLC increased its holdings in SecureWorks by 16.4% during the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after buying an additional 51,869 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.