SecureWorks (NASDAQ:SCWX) PT Lowered to $8.25 at Morgan Stanley

SecureWorks (NASDAQ:SCWX) had its target price trimmed by Morgan Stanley from $9.00 to $8.25 in a report published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

SCWX has been the subject of several other reports. Bank of America decreased their price target on shares of SecureWorks from $6.50 to $6.00 and set an underperform rating for the company in a research report on Monday. Barclays decreased their price target on shares of SecureWorks from $8.00 to $7.00 in a research report on Friday, September 8th. Finally, StockNews.com initiated coverage on shares of SecureWorks in a research report on Thursday, August 17th. They issued a hold rating for the company.

SecureWorks Price Performance

NASDAQ:SCWX opened at $6.20 on Monday. SecureWorks has a 1-year low of $5.28 and a 1-year high of $10.06. The company has a 50-day moving average of $6.94 and a 200 day moving average of $7.71. The firm has a market cap of $533.40 million, a PE ratio of -4.03 and a beta of 0.96.

Insiders Place Their Bets

In other news, major shareholder Neil Gagnon purchased 3,670 shares of the stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average price of $6.85 per share, with a total value of $25,139.50. Following the transaction, the insider now owns 553,944 shares in the company, valued at approximately $3,794,516.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 13,093 shares of company stock valued at $90,311 in the last 90 days. 83.10% of the stock is owned by insiders.

Institutional Trading of SecureWorks

A number of large investors have recently made changes to their positions in the company. Gagnon Securities LLC boosted its holdings in SecureWorks by 25.9% in the first quarter. Gagnon Securities LLC now owns 1,291,022 shares of the technology company’s stock valued at $11,064,000 after purchasing an additional 265,325 shares in the last quarter. Herald Investment Management Ltd acquired a new position in SecureWorks in the first quarter valued at approximately $1,440,000. Vanguard Group Inc. boosted its holdings in shares of SecureWorks by 16.4% in the third quarter. Vanguard Group Inc. now owns 1,078,346 shares of the technology company’s stock valued at $8,681,000 after acquiring an additional 152,111 shares during the period. Royce & Associates LP boosted its holdings in shares of SecureWorks by 13.7% in the first quarter. Royce & Associates LP now owns 1,003,212 shares of the technology company’s stock valued at $8,598,000 after acquiring an additional 120,617 shares during the period. Finally, Gagnon Advisors LLC boosted its holdings in shares of SecureWorks by 20.0% in the first quarter. Gagnon Advisors LLC now owns 708,994 shares of the technology company’s stock valued at $6,076,000 after acquiring an additional 118,264 shares during the period. 10.21% of the stock is currently owned by hedge funds and other 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 adversarial services.