OneSpan (NASDAQ:OSPN) Hits New 52-Week High – Still a Buy?

OneSpan Inc. (NASDAQ:OSPN) reached a new 52-week high on Thursday . The company traded as high as $20.26 and last traded at $20.23, with a volume of 496803 shares. The stock had previously closed at $19.70.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OSPN shares. Rosenblatt Securities upped their price target on OneSpan from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 16th. StockNews.com upgraded OneSpan from a “buy” rating to a “strong-buy” rating in a report on Monday, November 4th. Finally, Sidoti upgraded OneSpan from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $19.00 in a report on Thursday, October 31st. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $17.63.

OneSpan Stock Performance

The company has a market capitalization of $768.54 million, a PE ratio of 27.34 and a beta of 0.77. The company has a 50 day moving average price of $18.88 and a 200 day moving average price of $16.98.

OneSpan Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Friday, February 14th. Stockholders 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 (DPR) is currently 64.86%.

Insider Activity

In other OneSpan news, Director Michael J. Mcconnell sold 53,000 shares of OneSpan stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $18.51, for a total value of $981,030.00. Following the completion of the transaction, the director now owns 20,849 shares of the company’s stock, valued at $385,914.99. The trade was a 71.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On OneSpan

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in OneSpan by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,526,988 shares of the company’s stock worth $65,390,000 after purchasing an additional 38,362 shares during the period. Raymond James Financial Inc. acquired a new position in OneSpan in the fourth quarter worth $44,699,000. Legal & General Group Plc boosted its holdings in OneSpan by 0.8% in the fourth quarter. Legal & General Group Plc now owns 2,195,570 shares of the company’s stock worth $40,706,000 after purchasing an additional 16,901 shares during the period. State Street Corp boosted its holdings in OneSpan by 1.6% in the third quarter. State Street Corp now owns 1,641,855 shares of the company’s stock worth $27,370,000 after purchasing an additional 25,361 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in OneSpan by 177.5% in the third quarter. JPMorgan Chase & Co. now owns 1,106,806 shares of the company’s stock worth $18,450,000 after purchasing an additional 708,020 shares during the period. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.