SecureWorks Corp. (NASDAQ:SCWX) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its position in shares of SecureWorks Corp. (NASDAQ:SCWX) by 39.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,648 shares of the technology company’s stock after selling 23,089 shares during the quarter. King Luther Capital Management Corp’s holdings in SecureWorks were worth $315,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Squarepoint Ops LLC bought a new position in SecureWorks during the second quarter valued at about $121,000. Jaffetilchin Investment Partners LLC acquired a new stake in SecureWorks in the 2nd quarter valued at about $127,000. Oppenheimer Asset Management Inc. boosted its position in shares of SecureWorks by 107.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after purchasing an additional 19,735 shares in the last quarter. Marshall Wace LLP grew its stake in shares of SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after purchasing an additional 5,205 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of SecureWorks in the 3rd quarter worth approximately $449,000. 14.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCWX has been the subject of a number of research reports. Barclays raised their target price on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. StockNews.com initiated coverage on SecureWorks in a report on Sunday. They issued a “hold” rating on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd.

SecureWorks Price Performance

SecureWorks stock opened at $8.39 on Friday. The company has a market cap of $745.28 million, a P/E ratio of -9.87 and a beta of 1.00. SecureWorks Corp. has a fifty-two week low of $5.61 and a fifty-two week high of $9.76. The firm’s 50 day simple moving average is $8.19 and its 200-day simple moving average is $7.39.

SecureWorks (NASDAQ:SCWX) last announced its 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). The firm had revenue of $82.18 million for the quarter, compared to analyst estimates of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. On average, analysts expect that SecureWorks Corp. will post -0.29 EPS for the current fiscal year.

SecureWorks 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.