Onespan (NASDAQ:OSPN) Shares Climb 6.8% – Here’s What Happened

Shares of Onespan Inc (NASDAQ:OSPN) shot up 6.8% on Friday. The stock traded as high as $20.42 and last traded at $20.5250. Approximately 421,848 shares were traded during trading, a decline of 22% from the average daily volume of 543,473 shares. The stock had previously closed at $19.21.

Wall Street Analysts Forecast Growth

OSPN has been the topic of a number of recent research reports. DA Davidson lifted their target price on Onespan from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Onespan from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, September 14th. Finally, Rosenblatt Securities lifted their price objective on shares of Onespan from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Onespan Stock Up 7.1%

The firm has a fifty day moving average of $17.19 and a 200-day moving average of $14.94. The company has a quick ratio of 1.23, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The firm has a market cap of $758.19 million, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.64 and a beta of 1.59.

Onespan (NASDAQ:OSPN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. Onespan had a return on equity of 16.91% and a net margin of 27.76%. The firm had revenue of $60.47 million for the quarter, compared to analyst estimates of $58.25 million. On average, equities research analysts anticipate that Onespan Inc will post 1.05 earnings per share for the current year.

Onespan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 14th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, August 14th. Onespan’s payout ratio is presently 29.21%.

Institutional Trading of Onespan

A number of large investors have recently added to or reduced their stakes in OSPN. BlackRock Inc. bought a new position in shares of Onespan in the 2nd quarter valued at about $59,607,000. Legal & General Group Plc bought a new position in Onespan during the second quarter worth about $31,248,000. Arrowstreet Capital Limited Partnership increased its position in Onespan by 94.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,268,242 shares of the company’s stock worth $13,355,000 after buying an additional 617,092 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Onespan in the second quarter valued at approximately $7,272,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Onespan by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,524 shares of the company’s stock valued at $15,421,000 after buying an additional 349,648 shares during the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

About Onespan

OneSpan Inc (NASDAQ: OSPN) provides digital identity, authentication and electronic signature solutions for organizations that need to secure online transactions and interactions. Its technology is designed to help businesses verify users, protect accounts and transactions, and meet security and compliance requirements across digital channels.

The company’s offerings include DIGIPASS authentication products, mobile and hardware authenticators, transaction-signing tools, adaptive authentication and identity verification capabilities.