BlackRock Inc. raised its holdings in shares of Secureworks Corp (NASDAQ:SCWX) by 27.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,529 shares of the technology company’s stock after purchasing an additional 92,683 shares during the quarter. BlackRock Inc. owned 0.52% of Secureworks worth $5,299,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in SCWX. Rhumbline Advisers bought a new stake in Secureworks during the 2nd quarter valued at $142,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Secureworks in the 1st quarter worth $158,000. Engineers Gate Manager LP bought a new stake in shares of Secureworks in the 2nd quarter worth $186,000. Bank of New York Mellon Corp grew 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 acquiring an additional 11,281 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Secureworks by 5.2% in the 1st quarter. Northern Trust Corp now owns 97,427 shares of the technology company’s stock worth $787,000 after acquiring an additional 4,794 shares in the last quarter. Institutional investors and hedge funds own 8.76% of the company’s stock.
NASDAQ SCWX opened at $16.63 on Friday. Secureworks Corp has a 1 year low of $7.83 and a 1 year high of $18.97. The firm has a market capitalization of $1.33 billion, a PE ratio of -36.96 and a beta of 0.31.
Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, September 5th. The technology company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. The company had revenue of $128.80 million for the quarter, compared to the consensus estimate of $127.62 million. Secureworks had a negative net margin of 5.13% and a negative return on equity of 4.67%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. On average, research analysts expect that Secureworks Corp will post -0.34 earnings per share for the current year.
SCWX has been the subject of several recent analyst reports. BidaskClub upgraded shares of Secureworks from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. UBS Group lowered shares of Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 target price for the company. in a research note on Friday, August 24th. Morgan Stanley upped their target price on shares of Secureworks from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 6th. Stifel Nicolaus upped their target price on shares of Secureworks from $10.50 to $11.50 and gave the stock a “hold” rating in a research note on Thursday, September 6th. Finally, Zacks Investment Research lowered shares of Secureworks from a “buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Secureworks has an average rating of “Buy” and a consensus price target of $12.00.
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Secureworks Company Profile
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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