New York State Common Retirement Fund boosted its position in shares of SecureWorks Corp. (NASDAQ:SCWX) by 116.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,673 shares of the technology company’s stock after purchasing an additional 4,673 shares during the quarter. New York State Common Retirement Fund’s holdings in SecureWorks were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new stake in SecureWorks during the 1st quarter valued at $278,000. Cresset Asset Management LLC bought a new stake in SecureWorks during the 1st quarter valued at $157,000. Dimensional Fund Advisors LP boosted its position in SecureWorks by 20.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 61,736 shares of the technology company’s stock valued at $878,000 after acquiring an additional 10,427 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in SecureWorks during the 1st quarter valued at $716,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in SecureWorks by 118.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,410 shares of the technology company’s stock valued at $1,990,000 after acquiring an additional 58,247 shares in the last quarter. Institutional investors own 10.31% of the company’s stock.
A number of research firms have recently weighed in on SCWX. Royal Bank of Canada raised their price objective on SecureWorks from $15.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Friday, September 3rd. Barclays raised their price objective on SecureWorks from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Friday, September 3rd. Finally, Zacks Investment Research cut SecureWorks from a “buy” rating to a “sell” rating in a research report on Friday, September 10th. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, SecureWorks has an average rating of “Sell” and an average price target of $17.67.
SecureWorks (NASDAQ:SCWX) last released its quarterly earnings data on Wednesday, September 1st. The technology company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The business had revenue of $134.20 million during the quarter, compared to analyst estimates of $135.02 million. SecureWorks had a negative return on equity of 1.29% and a negative net margin of 5.64%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. As a group, equities research analysts predict that SecureWorks Corp. will post -0.4 EPS for the current fiscal year.
SecureWorks Corp. is a cyber security company, which engages 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, adversarial security testing.
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