Onespan (NASDAQ:OSPN) Hits New 12-Month High – Here’s Why

Onespan Inc (NASDAQ:OSPN) hit a new 52-week high on Tuesday. The company traded as high as $18.75 and last traded at $18.6680, with a volume of 33397 shares. The stock had previously closed at $18.42.

Analysts Set New Price Targets

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

Onespan Stock Down 3.7%

The company has a market cap of $652.25 million, a P/E ratio of 9.94, a P/E/G ratio of 1.60 and a beta of 1.59. The stock has a 50-day moving average of $16.77 and a two-hundred day moving average of $14.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.33.

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

Onespan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 14th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 14th. Onespan’s dividend payout ratio (DPR) is 29.21%.

Institutional Investors Weigh In On Onespan

Several institutional investors have recently bought and sold shares of the stock. Hennessy Advisors Inc. raised its position in shares of Onespan by 6.6% in the 2nd quarter. Hennessy Advisors Inc. now owns 11,184 shares of the company’s stock worth $160,000 after purchasing an additional 690 shares during the last quarter. Allworth Financial LP grew its position in Onespan by 201.0% during the 2nd quarter. Allworth Financial LP now owns 2,528 shares of the company’s stock valued at $36,000 after purchasing an additional 1,688 shares during the last quarter. GAMMA Investing LLC increased its stake in Onespan by 33.7% during the 2nd quarter. GAMMA Investing LLC now owns 6,960 shares of the company’s stock valued at $100,000 after purchasing an additional 1,755 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Onespan by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 504,141 shares of the company’s stock valued at $5,309,000 after purchasing an additional 1,993 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new position in Onespan in the second quarter worth about $61,000. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

About Onespan

OneSpan Inc (NASDAQ: OSPN) provides digital identity, authentication and electronic-signature solutions designed to help organizations secure online transactions and agreements. Its offerings support financial institutions, businesses and government organizations as they manage digital interactions, protect user access and meet security and compliance requirements.

The company’s portfolio includes multi-factor authentication, mobile and hardware authentication devices, transaction signing, identity verification and electronic-signature software.