Massachusetts Financial Services Co. MA acquired a new stake in Secureworks Corp (NASDAQ:SCWX) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 22,589 shares of the technology company’s stock, valued at approximately $331,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Rhumbline Advisers purchased a new stake in shares of Secureworks in the 2nd quarter worth $142,000. Engineers Gate Manager LP purchased a new stake in shares of Secureworks in the 2nd quarter worth $186,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Secureworks in the 1st quarter worth $158,000. King Luther Capital Management Corp increased its stake in shares of Secureworks by 13.9% in the 2nd quarter. King Luther Capital Management Corp now owns 41,000 shares of the technology company’s stock worth $510,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Secureworks by 34.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 44,119 shares of the technology company’s stock worth $550,000 after purchasing an additional 11,281 shares in the last quarter. 8.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of SCWX stock opened at $16.63 on Friday. Secureworks Corp has a 52-week low of $7.83 and a 52-week high of $18.97.
Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, September 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. Secureworks had a negative return on equity of 4.67% and a negative net margin of 5.13%. The business had revenue of $128.80 million during the quarter, compared to analyst estimates of $127.62 million. During the same quarter in the prior year, the business posted ($0.07) EPS. Secureworks’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts predict that Secureworks Corp will post -0.34 EPS for the current fiscal year.
Several equities research analysts have recently commented on SCWX shares. Morgan Stanley upped their price objective on Secureworks from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 6th. BidaskClub upgraded Secureworks from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Zacks Investment Research lowered Secureworks from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus upped their price objective on Secureworks from $10.50 to $11.50 and gave the stock a “hold” rating in a research note on Thursday, September 6th. Finally, UBS Group lowered Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a research note on Friday, August 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.00.
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SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats.
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