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

StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX – Get Rating) in a research report report published on Thursday. The firm issued a hold rating on the technology company’s stock.

A number of other equities analysts have also recently commented on SCWX. Barclays lowered their target price on SecureWorks from $11.00 to $9.00 and set an underweight rating for the company in a report on Friday, December 2nd. Morgan Stanley lowered their price objective on shares of SecureWorks from $12.00 to $9.00 and set an equal weight rating for the company in a research note on Friday, December 2nd.

SecureWorks Stock Performance

SCWX opened at $7.54 on Thursday. SecureWorks has a 52 week low of $5.28 and a 52 week high of $14.09. The business has a fifty day simple moving average of $7.69 and a 200-day simple moving average of $7.58.

Insider Buying and Selling

In related news, major shareholder Neil Gagnon purchased 8,654 shares of SecureWorks stock in a transaction on Wednesday, February 8th. The shares were bought at an average price of $8.71 per share, with a total value of $75,376.34. Following the transaction, the insider now directly owns 420,952 shares of the company’s stock, valued at $3,666,491.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 85.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SecureWorks

A number of large investors have recently modified their holdings of SCWX. UBS Group AG grew its stake in shares of SecureWorks by 74.4% during the fourth quarter. UBS Group AG now owns 4,312 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,839 shares in the last quarter. Natixis purchased a new stake in SecureWorks during the 4th quarter worth about $33,000. Russell Investments Group Ltd. lifted its holdings in SecureWorks by 48.3% during the 4th quarter. Russell Investments Group Ltd. now owns 8,390 shares of the technology company’s stock worth $54,000 after buying an additional 2,731 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of SecureWorks by 111.8% in the 4th quarter. Bank of America Corp DE now owns 9,928 shares of the technology company’s stock valued at $63,000 after acquiring an additional 5,241 shares during the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in shares of SecureWorks in the 4th quarter valued at about $78,000. 10.41% of the stock is owned by hedge funds and other institutional investors.

SecureWorks Company Profile

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SecureWorks Corp. is a cyber security company engaged in the provision of information security solutions. The firm’s products include extended detection and response, managed detection and response, and vulnerability management. Its services include managed security, incident response, threat intelligence, security consulting, and adversarial security testing.