SecureWorks (NASDAQ:SCWX) Shares Gap Up to $7.85

Shares of SecureWorks Corp. (NASDAQ:SCWX) gapped up prior to trading on Wednesday . The stock had previously closed at $7.85, but opened at $8.14. SecureWorks shares last traded at $7.95, with a volume of 3,180 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on SCWX shares. Barclays upped their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a report on Friday, September 6th.

SecureWorks Price Performance

The business has a 50-day moving average of $7.56 and a two-hundred day moving average of $6.72. The company has a market cap of $692.87 million, a P/E ratio of -7.36 and a beta of 0.99.

Institutional Trading of SecureWorks

A number of institutional investors have recently modified their holdings of SCWX. First Eagle Investment Management LLC increased its holdings in shares of SecureWorks by 1.5% during the first quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock valued at $5,992,000 after acquiring an additional 13,551 shares in the last quarter. Horrell Capital Management Inc. raised its stake in shares of SecureWorks by 0.3% during the 1st quarter. Horrell Capital Management Inc. now owns 582,878 shares of the technology company’s stock worth $3,917,000 after buying an additional 2,000 shares during the period. Dimensional Fund Advisors LP raised its position in SecureWorks by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after acquiring an additional 16,327 shares during the period. Scalar Gauge Management LLC raised its position in shares of SecureWorks by 18.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock worth $2,213,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Palogic Value Management L.P. lifted its position in shares of SecureWorks by 2.7% in the fourth quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock valued at $1,793,000 after acquiring an additional 6,497 shares in the last quarter. 14.38% of the stock is currently owned by institutional investors.

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.