Onespan (NASDAQ:OSPN) Shares Climb 6.8% – Still a Buy?

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings upgraded Onespan from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 14th. DA Davidson boosted their target price on shares of Onespan from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Rosenblatt Securities increased their price target on shares of Onespan from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Onespan Price Performance

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 stock’s 50-day simple moving average is $17.27 and its two-hundred day simple moving average is $14.97. The company has a market capitalization of $744.00 million, a price-to-earnings ratio of 11.34, a PEG ratio of 1.75 and a beta of 1.59.

Onespan (NASDAQ:OSPN) last announced its earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The business had revenue of $60.47 million for the quarter, compared to analyst estimates of $58.25 million. Onespan had a net margin of 27.76% and a return on equity of 16.91%. Equities research analysts predict 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. Stockholders of record on Friday, August 14th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, August 14th. Onespan’s dividend payout ratio (DPR) is 29.21%.

Institutional Trading of Onespan

Several large investors have recently made changes to their positions in OSPN. BlackRock Inc. acquired a new position in Onespan during the second quarter worth about $59,607,000. Legal & General Group Plc acquired a new stake in Onespan in the 2nd quarter valued at about $31,248,000. Arrowstreet Capital Limited Partnership raised its holdings in Onespan by 94.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,268,242 shares of the company’s stock valued at $13,355,000 after acquiring an additional 617,092 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Onespan in the 2nd quarter worth approximately $7,272,000. Finally, Dimensional Fund Advisors LP lifted its stake in Onespan by 31.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,524 shares of the company’s stock worth $15,421,000 after purchasing an additional 349,648 shares in the last quarter. 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 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.