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

StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a report issued on Wednesday morning. The brokerage issued a hold rating on the technology company’s stock.

SecureWorks Price Performance

Shares of SecureWorks stock opened at $8.51 on Wednesday. SecureWorks has a twelve month low of $5.61 and a twelve month high of $9.76. The company’s 50 day moving average is $8.51 and its 200 day moving average is $8.42. The company has a market cap of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94.

Hedge Funds Weigh In On SecureWorks

A number of institutional investors and hedge funds have recently modified their holdings of SCWX. FMR LLC lifted its holdings in SecureWorks by 22.3% in the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after acquiring an additional 3,964 shares during the period. State Street Corp lifted its stake in shares of SecureWorks by 5.5% in the 3rd quarter. State Street Corp now owns 44,227 shares of the technology company’s stock worth $391,000 after purchasing an additional 2,300 shares during the period. Geode Capital Management LLC lifted its stake in shares of SecureWorks by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 160,430 shares of the technology company’s stock worth $1,420,000 after purchasing an additional 19,766 shares during the period. Y.D. More Investments Ltd boosted its holdings in shares of SecureWorks by 7.9% in the fourth quarter. Y.D. More Investments Ltd now owns 20,465 shares of the technology company’s stock worth $173,000 after buying an additional 1,501 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in SecureWorks during the fourth quarter valued at approximately $317,000. 14.38% of the stock is currently owned by hedge funds and other institutional investors.

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.