Onespan (NASDAQ:OSPN) Stock Jumps 0.7% – Here’s What Happened

Shares of Onespan Inc (NASDAQ:OSPN) shot up 0.7% during mid-day trading on Thursday. The company traded as high as $18.25 and last traded at $18.04. Approximately 514,140 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 558,602 shares. The stock had previously closed at $17.91.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. 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. DA Davidson increased their target price on Onespan from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.00.

Onespan Stock 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 company has a fifty day moving average price of $16.61 and a 200 day moving average price of $14.16. The stock has a market cap of $667.76 million, a PE ratio of 10.18, a P/E/G ratio of 1.57 and a beta of 1.59.

Onespan (NASDAQ:OSPN) last issued its earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share for the quarter, beating 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. Analysts expect that Onespan Inc will post 1.05 earnings per share for the current year.

Onespan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 14th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a 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 Trading of Onespan

Several large investors have recently modified their holdings of OSPN. Allworth Financial LP purchased a new position in shares of Onespan during the second quarter valued at approximately $36,000. Global Retirement Partners LLC purchased a new stake in shares of Onespan in the 2nd quarter worth about $61,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Onespan in the 2nd quarter worth about $88,000. GAMMA Investing LLC boosted its stake in shares of 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. Finally, Abel Hall LLC purchased a new position in shares of Onespan during the first quarter valued at about $107,000. 95.52% of the stock is owned by 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.