OneSpan (NASDAQ:OSPN) Reaches New 12-Month High – Here’s Why

Shares of OneSpan Inc. (NASDAQ:OSPN) hit a new 52-week high on Thursday . The stock traded as high as $19.86 and last traded at $19.73, with a volume of 389970 shares traded. The stock had previously closed at $19.09.

Analysts Set New Price Targets

A number of research firms recently commented on OSPN. Rosenblatt Securities lifted their target price on shares of OneSpan from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Sidoti upgraded OneSpan from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $19.00 in a research report on Thursday, October 31st. Finally, StockNews.com upgraded OneSpan from a “buy” rating to a “strong-buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.63.

OneSpan Trading Down 1.6 %

The business has a fifty day moving average price of $18.55 and a two-hundred day moving average price of $16.42. The firm has a market capitalization of $737.01 million, a PE ratio of 26.22 and a beta of 0.77.

OneSpan (NASDAQ:OSPN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. OneSpan had a net margin of 11.73% and a return on equity of 23.27%. The business had revenue of $56.24 million during the quarter. During the same period last year, the firm posted $0.04 earnings per share. On average, equities analysts forecast that OneSpan Inc. will post 1.11 earnings per share for the current fiscal year.

OneSpan Announces Dividend

The business also recently declared a — dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.12 dividend. The ex-dividend date is Friday, January 31st.

Insider Activity at OneSpan

In related news, Director Michael J. Mcconnell sold 53,000 shares of OneSpan stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $18.51, for a total transaction of $981,030.00. Following the completion of the transaction, the director now directly owns 20,849 shares of the company’s stock, valued at approximately $385,914.99. The trade was a 71.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC lifted its position in OneSpan by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 256,029 shares of the company’s stock worth $4,268,000 after buying an additional 681 shares during the period. Meeder Asset Management Inc. lifted its position in shares of OneSpan by 6.8% during the third quarter. Meeder Asset Management Inc. now owns 13,867 shares of the company’s stock worth $231,000 after purchasing an additional 884 shares in the last quarter. Baader Bank Aktiengesellschaft increased its position in shares of OneSpan by 8.9% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 20,700 shares of the company’s stock worth $384,000 after acquiring an additional 1,700 shares during the last quarter. Quarry LP grew its holdings in OneSpan by 860.4% during the 2nd quarter. Quarry LP now owns 2,161 shares of the company’s stock worth $28,000 after acquiring an additional 1,936 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of OneSpan in the 4th quarter worth approximately $37,000. 95.52% of the stock is owned by hedge funds and other institutional investors.

OneSpan Company Profile

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.