Onespan (NASDAQ:OSPN) Shares Up 0.7% – Time to Buy?

Shares of Onespan Inc (NASDAQ:OSPN) were up 0.7% during trading on Thursday. The stock 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 daily volume of 558,602 shares. The stock had previously closed at $17.91.

Wall Street Analysts Forecast Growth

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

Onespan Stock Up 0.7%

The firm has a market capitalization of $664.77 million, a P/E ratio of 10.13, a PEG ratio of 1.56 and a beta of 1.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.33. The stock has a 50 day moving average of $16.55 and a 200-day moving average of $14.13.

Onespan (NASDAQ:OSPN) last issued its earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $60.47 million during 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%. Research analysts predict that Onespan Inc will post 1.05 earnings per share for the current fiscal year.

Onespan Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, August 14th. Onespan’s dividend payout ratio is presently 29.21%.

Institutional Inflows and Outflows

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

About Onespan

OneSpan Inc (NASDAQ: OSPN) is a cybersecurity and digital agreement company that helps organizations secure digital transactions, authenticate users and manage electronic signatures. Its solutions are designed to protect access to online services and support trusted digital interactions across web, mobile and other channels.

The company’s product portfolio includes OneSpan Sign, an electronic signature and digital agreement platform, along with authentication products such as hardware and software security tokens, mobile authenticators and transaction-signing solutions.