Zacks Investment Research Upgrades Onespan (NASDAQ:OSPN) to Buy

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Onespan (NASDAQ:OSPN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, Zacks.com reports. The brokerage presently has a $20.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.65% from the stock’s previous close.

According to Zacks, “OneSpan Inc. provides software services. The Company designs and develops security software and e-signature solutions which protects devices and financial transactions from fraud and misuse. It delivers risk analytics, mobile security and authentication services. OneSpan Inc., formerly known as Vasco Data Sec, is based in Chicago, United States. “

Separately, TheStreet upgraded shares of Onespan from a “c-” rating to a “b-” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $20.50.

Shares of OSPN opened at $18.24 on Friday. The stock has a market cap of $722.82 million, a PE ratio of 91.20, a price-to-earnings-growth ratio of 2.90 and a beta of 2.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.50 and a current ratio of 2.77. Onespan has a fifty-two week low of $12.81 and a fifty-two week high of $21.61. The firm’s 50-day simple moving average is $18.00 and its two-hundred day simple moving average is $16.37.

In other news, Director T Kendall Hunt sold 134,219 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $20.18, for a total value of $2,708,539.42. Following the transaction, the director now owns 5,522,150 shares in the company, valued at $111,436,987. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 19.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. NEXT Financial Group Inc bought a new position in shares of Onespan in the fourth quarter worth approximately $67,000. Meeder Asset Management Inc. bought a new position in shares of Onespan in the fourth quarter worth approximately $95,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Onespan in the fourth quarter worth approximately $97,000. Acadian Asset Management LLC bought a new position in shares of Onespan in the fourth quarter worth approximately $107,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Onespan by 35.8% in the fourth quarter. Victory Capital Management Inc. now owns 6,984 shares of the company’s stock worth $120,000 after buying an additional 1,843 shares in the last quarter. Hedge funds and other institutional investors own 68.71% of the company’s stock.

About Onespan

OneSpan, Inc engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. Its solutions has the following functions: secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to easily integrate security functions into their web-based and mobile applications; and facilitate digital transactions involving the signing, sending, and managing of documents.

Further Reading: Why does a company issue an IPO?

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