SecureWorks (NASDAQ:SCWX) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued to investors on Friday morning. The firm issued a hold rating on the technology company’s stock.

SecureWorks Price Performance

Shares of NASDAQ SCWX opened at $8.51 on Friday. SecureWorks has a twelve month low of $5.61 and a twelve month high of $9.76. The stock’s 50 day moving average price is $8.47 and its 200-day moving average price is $8.23. The company has a market capitalization of $755.94 million, a PE ratio of -8.60 and a beta of 0.94.

SecureWorks (NASDAQ:SCWX) last announced its earnings results on Wednesday, December 4th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts expect that SecureWorks will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On SecureWorks

Several institutional investors have recently bought and sold shares of the company. Royce & Associates LP lifted its stake in SecureWorks by 2.5% in 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 purchased a new position in SecureWorks in the fourth quarter valued at approximately $10,795,000. FIL Ltd purchased a new position in SecureWorks in the fourth quarter valued at approximately $6,392,000. Alpine Associates Management Inc. purchased a new position in SecureWorks in the fourth quarter valued at approximately $5,273,000. Finally, Alberta Investment Management Corp purchased a new position in SecureWorks in the fourth quarter valued at approximately $5,076,000. Hedge funds and other institutional investors own 14.38% of the company’s stock.

About SecureWorks

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.