OneSpan (NASDAQ:OSPN) Sets New 52-Week High - Here's What Happened

OneSpan Inc. (NASDAQ:OSPN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $20.12 and last traded at $19.64, with a volume of 1366 shares traded. The stock had previously closed at $19.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OSPN shares. StockNews.com upgraded shares of OneSpan from a "buy" rating to a "strong-buy" rating in a research report on Monday, November 4th. Rosenblatt Securities increased their target price on shares of OneSpan from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Finally, Sidoti upgraded shares of OneSpan from a "neutral" rating to a "buy" rating and increased their target price for the stock from $14.00 to $19.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $17.63.

OneSpan Stock Performance

The stock has a market cap of $734.16 million, a price-to-earnings ratio of 26.10 and a beta of 0.77. The firm's 50-day simple moving average is $18.64 and its two-hundred day simple moving average is $16.56.

OneSpan (NASDAQ:OSPN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. The firm had revenue of $56.24 million during the quarter. OneSpan had a net margin of 11.73% and a return on equity of 23.27%. During the same quarter in the previous year, the business posted $0.04 EPS. Equities research analysts expect that OneSpan Inc. will post 1.11 earnings per share for the current fiscal year.

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 given a $0.12 dividend. The ex-dividend date of this dividend is Friday, January 31st.

Insider Transactions at OneSpan

In other news, Director Michael J. Mcconnell sold 53,000 shares of OneSpan stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.51, for a total transaction of $981,030.00. Following the completion of the sale, the director now owns 20,849 shares in the company, valued at $385,914.99. The trade was a 71.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. R Squared Ltd acquired a new position in OneSpan during the fourth quarter valued at approximately $37,000. Quarry LP grew its holdings in OneSpan by 860.4% during the second 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 period. Covestor Ltd bought a new position in OneSpan in the third quarter valued at approximately $65,000. Point72 Asset Management L.P. bought a new position in OneSpan in the second quarter valued at approximately $74,000. Finally, Allspring Global Investments Holdings LLC bought a new position in OneSpan in the third quarter valued at approximately $158,000. Institutional investors and hedge funds own 95.52% of the company's stock.

OneSpan Company Profile

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.

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