OneSpan (NASDAQ:OSPN) Stock Price Up 5.7% After Analyst Upgrade

OneSpan Inc. (NASDAQ:OSPN) shares shot up 5.7% on Monday after Rosenblatt Securities raised their price target on the stock from $18.00 to $22.00. Rosenblatt Securities currently has a buy rating on the stock. OneSpan traded as high as $19.15 and last traded at $19.09. 46,982 shares changed hands during trading, a decline of 88% from the average session volume of 401,487 shares. The stock had previously closed at $18.06.

A number of other equities research analysts have also recently issued reports on OSPN. Sidoti upgraded shares of OneSpan from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $19.00 in a report on Thursday, October 31st. StockNews.com upgraded OneSpan from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $17.63.

Insider Activity at OneSpan

In other OneSpan news, Director Michael J. Mcconnell sold 53,000 shares of OneSpan stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.51, for a total value of $981,030.00. Following the transaction, the director now directly owns 20,849 shares of the company’s stock, valued at $385,914.99. The trade was a 71.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneSpan

Several hedge funds have recently modified their holdings of the business. Quarry LP raised its stake in OneSpan by 860.4% during the 2nd quarter. Quarry LP now owns 2,161 shares of the company’s stock valued at $28,000 after purchasing an additional 1,936 shares during the last quarter. Quest Partners LLC lifted its stake in shares of OneSpan by 2,952.6% in the second quarter. Quest Partners LLC now owns 2,381 shares of the company’s stock valued at $31,000 after buying an additional 2,303 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of OneSpan during the 2nd quarter worth approximately $41,000. Covestor Ltd acquired a new stake in OneSpan during the third quarter worth $65,000. Finally, Point72 Asset Management L.P. bought a new position in shares of OneSpan during the 2nd quarter worth about $74,000. 95.52% of the stock is owned by institutional investors.

OneSpan Price Performance

The business’s 50 day simple moving average is $16.92 and its 200 day simple moving average is $15.28. The stock has a market cap of $732.09 million, a P/E ratio of 26.04 and a beta of 0.77.

OneSpan Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, January 31st. OneSpan’s dividend payout ratio is currently 64.86%.

About OneSpan

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.