SecureWorks Corp. (NASDAQ:SCWX) Stake Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its position in shares of SecureWorks Corp. (NASDAQ:SCWX) by 39.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,648 shares of the technology company’s stock after selling 23,089 shares during the period. King Luther Capital Management Corp’s holdings in SecureWorks were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SCWX. Squarepoint Ops LLC acquired a new position in SecureWorks in the 2nd quarter worth about $121,000. Jaffetilchin Investment Partners LLC bought a new stake in shares of SecureWorks in the 2nd quarter valued at approximately $127,000. Oppenheimer Asset Management Inc. raised its position in SecureWorks by 107.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after acquiring an additional 19,735 shares in the last quarter. Marshall Wace LLP lifted its stake in SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after acquiring an additional 5,205 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in SecureWorks in the third quarter worth approximately $449,000. Institutional investors and hedge funds own 14.38% of the company’s stock.

SecureWorks Price Performance

SecureWorks stock opened at $8.39 on Friday. The firm has a market cap of $745.28 million, a price-to-earnings ratio of -9.87 and a beta of 1.00. The firm has a fifty day moving average price of $8.19 and a two-hundred day moving average price of $7.39. SecureWorks Corp. has a fifty-two week low of $5.61 and a fifty-two week high of $9.76.

SecureWorks (NASDAQ:SCWX) last released its earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. The business had revenue of $82.18 million during the quarter, compared to analyst estimates of $80.98 million. As a group, sell-side analysts expect that SecureWorks Corp. will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd. Finally, StockNews.com initiated coverage on SecureWorks in a research note on Sunday. They issued a “hold” rating on the stock.

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.