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

StockNews.com started coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note published on Monday. The brokerage issued a hold rating on the technology company’s stock.

SecureWorks Price Performance

Shares of SecureWorks stock opened at $8.51 on Monday. The firm has a market cap of $755.94 million, a PE ratio of -8.60 and a beta of 0.94. The business has a 50-day moving average price of $8.50 and a 200 day moving average price of $8.35. SecureWorks has a twelve month low of $5.61 and a twelve month high of $9.76.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in SecureWorks by 37.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,754 shares of the technology company’s stock worth $555,000 after purchasing an additional 17,077 shares during the last quarter. DRW Securities LLC purchased a new position in SecureWorks in the 3rd quarter worth approximately $407,000. Brown Brothers Harriman & Co. purchased a new position in SecureWorks in the 3rd quarter worth approximately $442,000. FMR LLC boosted its holdings in shares of SecureWorks by 22.3% during the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after purchasing an additional 3,964 shares during the last quarter. Finally, Scalar Gauge Management LLC grew its position in shares of SecureWorks by 16.4% in the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after purchasing an additional 51,869 shares in the last quarter. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.