Palogic Value Management L.P. Sells 85,000 Shares of SecureWorks Corp. (NASDAQ:SCWX)

Palogic Value Management L.P. trimmed its stake in SecureWorks Corp. (NASDAQ:SCWX) by 63.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 50,000 shares of the technology company’s stock after selling 85,000 shares during the period. Palogic Value Management L.P.’s holdings in SecureWorks were worth $423,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of SecureWorks by 14.1% during the third quarter. Geode Capital Management LLC now owns 160,430 shares of the technology company’s stock valued at $1,420,000 after purchasing an additional 19,766 shares during the period. State Street Corp boosted its position in SecureWorks by 5.5% in the 3rd quarter. State Street Corp now owns 44,227 shares of the technology company’s stock valued at $391,000 after buying an additional 2,300 shares during the period. FMR LLC grew its stake 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 in the last quarter. Empowered Funds LLC purchased a new position in shares of SecureWorks during the fourth quarter worth approximately $317,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of SecureWorks by 37.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,754 shares of the technology company’s stock valued at $555,000 after acquiring an additional 17,077 shares in the last quarter. Institutional investors own 14.38% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on SecureWorks in a research note on Monday, March 24th. They issued a “hold” rating on the stock.

SecureWorks Price Performance

Shares of NASDAQ:SCWX opened at $8.51 on Friday. The firm has a 50 day moving average of $8.50 and a 200 day moving average of $8.36. 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 Corp. has a 52 week low of $5.61 and a 52 week high of $9.76.

SecureWorks 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.