Onespan (NASDAQ:OSPN) Sets New 1-Year High – Time to Buy?

Onespan Inc (NASDAQ:OSPN) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $18.83 and last traded at $18.68, with a volume of 197,459 shares. The stock had previously closed at $18.25.

Analyst Ratings Changes

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

Onespan Stock Up 7.1%

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.23. The business’s 50 day simple moving average is $17.19 and its 200 day simple moving average is $14.94. The company has a market capitalization of $758.19 million, a PE ratio of 11.56, a P/E/G ratio of 1.64 and a beta of 1.59.

Onespan (NASDAQ:OSPN) last posted its earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share (EPS) 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 company had revenue of $60.47 million during the quarter, compared to analysts’ expectations of $58.25 million. As a group, analysts anticipate that Onespan Inc will post 1.05 earnings per share for the current fiscal year.

Onespan Dividend Announcement

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

Institutional Investors Weigh In On Onespan

A number of hedge funds have recently bought and sold shares of OSPN. Y Intercept Hong Kong Ltd raised its holdings in shares of Onespan by 858.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 119,419 shares of the company’s stock valued at $1,257,000 after purchasing an additional 106,960 shares in the last quarter. Bank of America Corp DE purchased a new position in Onespan in the second quarter valued at $894,000. Legal & General Group Plc purchased a new position in Onespan in the second quarter valued at $31,248,000. Bank of New York Mellon Corp acquired a new stake in Onespan in the second quarter valued at $7,272,000. Finally, Ieq Capital LLC acquired a new stake in Onespan in the second quarter valued at $1,635,000. 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.