BidaskClub Upgrades Onespan (NASDAQ:OSPN) to Strong-Buy
Several other research firms have also recently weighed in on OSPN. ValuEngine cut Onespan from a buy rating to a hold rating in a report on Thursday, April 9th. BTIG Research reissued a neutral rating on shares of Onespan in a report on Friday, March 27th. Needham & Company LLC increased their price target on Onespan from $24.00 to $31.00 and gave the company a buy rating in a report on Wednesday, June 24th. TheStreet cut Onespan from a b- rating to a c+ rating in a report on Tuesday, March 3rd. Finally, Sidoti increased their price target on Onespan from $23.00 to $29.00 and gave the company a buy rating in a report on Thursday, June 18th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $25.40.
OSPN stock opened at $27.93 on Friday. The stock has a market capitalization of $1.09 billion, a PE ratio of 75.49, a price-to-earnings-growth ratio of 5.63 and a beta of 1.05. Onespan has a 12-month low of $10.88 and a 12-month high of $28.29. The company has a current ratio of 3.03, a quick ratio of 2.76 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $21.52 and its 200 day simple moving average is $18.12.
In other news, Director T Kendall Hunt sold 192,631 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $19.35, for a total value of $3,727,409.85. Following the completion of the sale, the director now directly owns 5,154,658 shares in the company, valued at approximately $99,742,632.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marc Boroditsky acquired 3,000 shares of Onespan stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $17.25 per share, with a total value of $51,750.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at $51,750. The disclosure for this purchase can be found here. Insiders sold a total of 694,878 shares of company stock valued at $13,788,520 over the last 90 days. 18.00% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in Onespan by 43.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,676 shares of the company’s stock worth $48,000 after buying an additional 805 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Onespan in the 4th quarter worth $95,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Onespan in the 4th quarter worth $97,000. Acadian Asset Management LLC purchased a new stake in Onespan in the 4th quarter worth $107,000. Finally, Victory Capital Management Inc. increased its stake in Onespan by 35.8% in the 4th 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. Institutional investors and hedge funds own 68.93% of the company’s stock.
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.
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