Onespan (NASDAQ:OSPN) Downgraded to Hold Rating by Wall Street Zen

Onespan (NASDAQ:OSPN) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

OSPN has been the topic of a number of other reports. DA Davidson decreased their target price on Onespan from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Onespan in a report on Monday. Finally, Rosenblatt Securities cut their target price on shares of Onespan from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Onespan Price Performance

Onespan stock opened at $12.29 on Friday. The firm’s 50 day moving average price is $12.74 and its 200-day moving average price is $14.47. Onespan has a 1 year low of $11.00 and a 1 year high of $20.36. The stock has a market cap of $467.35 million, a P/E ratio of 8.36 and a beta of 1.51.

Onespan (NASDAQ:OSPN) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The company had revenue of $57.06 million for the quarter, compared to the consensus estimate of $58.18 million. Onespan had a net margin of 24.08% and a return on equity of 18.41%. As a group, equities analysts expect that Onespan will post 1.11 EPS for the current year.

Insider Transactions at Onespan

In other news, Director Michael J. Mcconnell acquired 50,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was bought at an average cost of $11.96 per share, with a total value of $598,000.00. Following the completion of the purchase, the director directly owned 83,763 shares of the company’s stock, valued at $1,001,805.48. This represents a 148.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Onespan

Several hedge funds have recently added to or reduced their stakes in the company. Simcoe Capital Management LLC lifted its stake in Onespan by 167.5% in the third quarter. Simcoe Capital Management LLC now owns 1,193,858 shares of the company’s stock worth $18,970,000 after purchasing an additional 747,578 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Onespan by 25.1% during the 3rd quarter. First Trust Advisors LP now owns 2,141,141 shares of the company’s stock worth $34,023,000 after acquiring an additional 428,983 shares during the last quarter. Topline Capital Management LLC bought a new stake in shares of Onespan during the 3rd quarter worth approximately $5,549,000. Jacobs Levy Equity Management Inc. boosted its holdings in Onespan by 2,674.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 329,202 shares of the company’s stock valued at $5,231,000 after acquiring an additional 317,335 shares during the period. Finally, LSV Asset Management grew its position in Onespan by 49.3% in the 2nd quarter. LSV Asset Management now owns 721,249 shares of the company’s stock valued at $12,038,000 after acquiring an additional 238,041 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors.

About Onespan

OneSpan, formerly known as Vasco Data Security International, is a Chicago-based cybersecurity software company specializing in digital identity and anti-fraud solutions. Founded in 1991, the company provides a suite of authentication and transaction security products designed to help organizations protect critical applications and high-value transactions across online, mobile and in-branch channels.

The core OneSpan portfolio includes multi-factor authentication, risk-based authentication and transaction signing solutions.