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

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

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

SecureWorks Stock Performance

NASDAQ SCWX opened at $8.49 on Monday. The company has a market capitalization of $754.17 million, a PE ratio of -8.58 and a beta of 0.94. SecureWorks has a 52-week low of $5.61 and a 52-week high of $9.76. The company has a 50-day simple moving average of $8.44 and a 200 day simple moving average of $8.07.

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 the consensus estimate 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 forecast that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new stake in shares of SecureWorks during the second quarter valued at approximately $121,000. Y.D. More Investments Ltd boosted its position in SecureWorks by 7.9% during the 4th quarter. Y.D. More Investments Ltd now owns 20,465 shares of the technology company’s stock valued at $173,000 after buying an additional 1,501 shares during the period. FMR LLC grew its holdings in SecureWorks by 22.3% in the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after acquiring an additional 3,964 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of SecureWorks in the fourth quarter valued at about $317,000. Finally, Marshall Wace LLP increased its position in shares of SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after acquiring 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.