SecureWorks (NASDAQ:SCWX – Free Report) had its target price cut by Bank of America from $6.50 to $6.00 in a report released on Monday, MarketBeat.com reports. They currently have an underperform rating on the technology company’s stock.
Several other analysts also recently commented on the stock. StockNews.com initiated coverage on shares of SecureWorks in a research report on Thursday, August 17th. They issued a hold rating for the company. Barclays decreased their target price on shares of SecureWorks from $8.00 to $7.00 in a research report on Friday, September 8th.
SecureWorks Stock Up 0.5 %
Insider Transactions at SecureWorks
In other news, major shareholder Neil Gagnon acquired 3,670 shares of SecureWorks stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average cost of $6.85 per share, for a total transaction of $25,139.50. Following the completion of the purchase, the insider now owns 553,944 shares of the company’s stock, valued at $3,794,516.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders bought 13,093 shares of company stock worth $90,311. 83.10% of the stock is owned by insiders.
Institutional Trading of SecureWorks
A number of institutional investors and hedge funds have recently modified their holdings of the company. Gagnon Securities LLC raised its stake in SecureWorks by 5.5% during the 2nd quarter. Gagnon Securities LLC now owns 1,362,222 shares of the technology company’s stock valued at $9,849,000 after purchasing an additional 71,200 shares during the last quarter. Vanguard Group Inc. raised its stake in SecureWorks by 16.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,078,346 shares of the technology company’s stock valued at $8,681,000 after purchasing an additional 152,111 shares during the last quarter. Royce & Associates LP raised its stake in SecureWorks by 13.7% during the 1st quarter. Royce & Associates LP now owns 1,003,212 shares of the technology company’s stock valued at $8,598,000 after purchasing an additional 120,617 shares during the last quarter. Gagnon Advisors LLC raised its stake in SecureWorks by 5.0% during the 2nd quarter. Gagnon Advisors LLC now owns 744,444 shares of the technology company’s stock valued at $5,382,000 after purchasing an additional 35,450 shares during the last quarter. Finally, Cove Street Capital LLC raised its stake in SecureWorks by 11.6% during the 4th quarter. Cove Street Capital LLC now owns 673,167 shares of the technology company’s stock valued at $4,302,000 after purchasing an additional 69,800 shares during the last quarter. 10.21% of the stock is currently owned by institutional investors and hedge funds.
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 adversarial services.
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