Stock Traders Buy Large Volume of SecureWorks Call Options (NASDAQ:SCWX)

SecureWorks Corp. (NASDAQ:SCWX) saw some unusual options trading on Wednesday. Traders purchased 4,227 call options on the stock. This is an increase of approximately 3,365% compared to the average volume of 122 call options.

Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in shares of SecureWorks during the 1st quarter valued at $278,000. JPMorgan Chase & Co. grew its holdings in shares of SecureWorks by 43.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 331,174 shares of the technology company’s stock valued at $6,136,000 after acquiring an additional 100,901 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of SecureWorks by 71.9% during the 2nd quarter. Cresset Asset Management LLC now owns 20,169 shares of the technology company’s stock valued at $375,000 after acquiring an additional 8,438 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of SecureWorks by 118.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,410 shares of the technology company’s stock valued at $1,990,000 after acquiring an additional 58,247 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of SecureWorks during the 2nd quarter valued at $263,000. Institutional investors and hedge funds own 14.62% of the company’s stock.

Several research firms have issued reports on SCWX. Royal Bank of Canada upped their price target on SecureWorks from $15.00 to $20.00 and gave the company a “sector perform” rating in a report on Friday, September 3rd. Barclays upped their price target on SecureWorks from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Friday, September 3rd. Zacks Investment Research raised shares of SecureWorks from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 12th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.67.

Shares of NASDAQ:SCWX opened at $18.34 on Friday. The company’s fifty day moving average is $20.18 and its two-hundred day moving average is $19.34. SecureWorks has a 12-month low of $11.09 and a 12-month high of $26.89. The company has a market cap of $1.57 billion, a P/E ratio of -48.26 and a beta of 1.02.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings results on Wednesday, September 1st. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. SecureWorks had a negative net margin of 5.64% and a negative return on equity of 1.29%. The business had revenue of $134.20 million for the quarter, compared to analysts’ expectations of $135.02 million. During the same period in the previous year, the company posted $0.10 EPS. SecureWorks’s revenue was down 3.1% on a year-over-year basis. Analysts expect that SecureWorks will post -0.4 EPS for the current year.

SecureWorks Company Profile

SecureWorks Corp. is a cyber security company, which engages in the provision of information security solutions. The firm’s products include extended detection and response, managed detection and response, and vulnerability management. Its services include managed security, incident response, threat intelligence, security consulting, adversarial security testing.

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