Brown Brothers Harriman & Co. Purchases Shares of 50,000 SecureWorks Corp. (NASDAQ:SCWX)

Brown Brothers Harriman & Co. acquired a new position in shares of SecureWorks Corp. (NASDAQ:SCWX) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 50,000 shares of the technology company’s stock, valued at approximately $442,000.

Other hedge funds have also made changes to their positions in the company. King Luther Capital Management Corp purchased a new stake in SecureWorks during the second quarter worth approximately $411,000. Gladius Capital Management LP acquired a new stake in SecureWorks during the third quarter worth approximately $463,000. Inspire Investing LLC acquired a new position in shares of SecureWorks in the 3rd quarter valued at $449,000. Scalar Gauge Management LLC boosted its holdings in shares of SecureWorks by 18.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock valued at $2,213,000 after buying an additional 50,000 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in shares of SecureWorks in the 3rd quarter valued at $407,000. Hedge funds and other institutional investors own 14.38% of the company’s stock.

SecureWorks Stock Performance

Shares of SecureWorks stock opened at $8.39 on Wednesday. The company’s fifty day moving average is $8.21 and its two-hundred day moving average is $7.43. SecureWorks Corp. has a 1 year low of $5.61 and a 1 year high of $9.76. The company has a market capitalization of $745.28 million, a P/E ratio of -9.87 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. The company had revenue of $82.18 million during the quarter, compared to analyst estimates of $80.98 million. As a group, equities analysts expect that SecureWorks Corp. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SCWX has been the subject of several research analyst reports. Barclays upped their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd. Finally, StockNews.com initiated coverage on SecureWorks in a research note on Sunday. They issued a “hold” rating for the company.

SecureWorks Company Profile

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.