Gagnon Securities LLC Boosts Holdings in Secureworks Corp (SCWX)

Gagnon Securities LLC raised its position in shares of Secureworks Corp (NASDAQ:SCWX) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 568,056 shares of the technology company’s stock after acquiring an additional 43,093 shares during the quarter. Secureworks makes up approximately 1.9% of Gagnon Securities LLC’s holdings, making the stock its 20th largest position. Gagnon Securities LLC owned 0.69% of Secureworks worth $8,322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SCWX. Rhumbline Advisers bought a new stake in Secureworks during the 2nd quarter valued at approximately $142,000. Citadel Advisors LLC bought a new stake in Secureworks during the 3rd quarter valued at approximately $178,000. Engineers Gate Manager LP bought a new stake in Secureworks during the 2nd quarter valued at approximately $186,000. AXA bought a new stake in Secureworks during the 3rd quarter valued at approximately $193,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Secureworks during the 3rd quarter valued at approximately $331,000. 9.56% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. BidaskClub raised Secureworks from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Investment Research cut Secureworks from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Stifel Nicolaus boosted their price target on Secureworks from $10.50 to $11.50 and gave the stock a “hold” rating in a research report on Thursday, September 6th. Morgan Stanley boosted their price target on Secureworks from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, UBS Group cut Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 price target on the stock. in a research report on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.00.

Shares of SCWX opened at $18.00 on Tuesday. Secureworks Corp has a 52 week low of $7.83 and a 52 week high of $18.97. The company has a market capitalization of $1.47 billion, a PE ratio of -40.00 and a beta of 0.34.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, September 5th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $128.80 million for the quarter, compared to analysts’ expectations of $127.62 million. Secureworks had a negative return on equity of 4.67% and a negative net margin of 5.13%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. On average, research analysts predict that Secureworks Corp will post -0.34 earnings per share for the current year.

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Secureworks 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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Institutional Ownership by Quarter for Secureworks (NASDAQ:SCWX)

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