SecureWorks Corp. (NASDAQ:SCWX) Position Raised by Scalar Gauge Management LLC

Scalar Gauge Management LLC raised its position in shares of SecureWorks Corp. (NASDAQ:SCWX) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 368,006 shares of the technology company’s stock after purchasing an additional 51,869 shares during the quarter. SecureWorks comprises 1.7% of Scalar Gauge Management LLC’s portfolio, making the stock its 16th largest holding. Scalar Gauge Management LLC owned about 0.41% of SecureWorks worth $3,257,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in shares of SecureWorks in the second quarter valued at $121,000. Jaffetilchin Investment Partners LLC bought a new position in shares of SecureWorks in the second quarter valued at $127,000. FMR LLC lifted its position in shares of SecureWorks by 22.3% during the 3rd 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 last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of SecureWorks by 107.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after acquiring an additional 19,735 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of SecureWorks in the 3rd quarter worth $407,000. 14.38% of the stock is currently owned by institutional investors and hedge funds.

SecureWorks Trading Up 0.7 %

NASDAQ:SCWX opened at $8.44 on Friday. The business’s fifty day moving average price is $8.24 and its 200 day moving average price is $7.46. The firm has a market capitalization of $749.73 million, a price-to-earnings ratio of -9.93 and a beta of 1.00. SecureWorks Corp. has a 1-year low of $5.61 and a 1-year high of $9.76.

SecureWorks (NASDAQ:SCWX) last issued its earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share 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. Equities analysts forecast that SecureWorks Corp. will post -0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays increased their price target on SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. StockNews.com initiated coverage on shares of SecureWorks in a report on Sunday, November 24th. They set a “hold” rating on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

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.