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

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

SecureWorks Stock Performance

SCWX opened at $8.51 on Friday. The company has a market capitalization of $755.94 million, a price-to-earnings 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 business’s fifty day simple moving average is $8.49 and its 200-day simple moving average is $8.33.

Hedge Funds Weigh In On SecureWorks

A number of large investors have recently bought and sold shares of the business. Royce & Associates LP lifted its stake in shares of SecureWorks by 2.5% during the 3rd quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock worth $11,722,000 after purchasing an additional 32,929 shares during the last quarter. Gardner Lewis Asset Management L P bought a new position in SecureWorks in the fourth quarter worth about $10,795,000. FIL Ltd purchased a new stake in shares of SecureWorks during the fourth quarter valued at about $6,392,000. Alpine Associates Management Inc. bought a new stake in shares of SecureWorks in the 4th quarter valued at about $5,273,000. Finally, Alberta Investment Management Corp purchased a new position in shares of SecureWorks in the 4th quarter worth approximately $5,076,000. 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.