Raymond James Financial Inc. Invests $44.70 Million in OneSpan Inc. (NASDAQ:OSPN)

Raymond James Financial Inc. purchased a new position in shares of OneSpan Inc. (NASDAQ:OSPN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,259,902 shares of the company's stock, valued at approximately $44,699,000. Raymond James Financial Inc. owned 5.95% of OneSpan at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OSPN. R Squared Ltd purchased a new stake in OneSpan during the 4th quarter worth $37,000. New York State Teachers Retirement System purchased a new stake in OneSpan during the 4th quarter worth $64,000. Covestor Ltd purchased a new stake in OneSpan during the 3rd quarter worth $65,000. Steward Partners Investment Advisory LLC purchased a new stake in OneSpan during the 4th quarter worth $109,000. Finally, Intech Investment Management LLC purchased a new stake in OneSpan during the 3rd quarter worth $173,000. Hedge funds and other institutional investors own 95.52% of the company's stock.

OneSpan Stock Performance

OSPN opened at $15.91 on Wednesday. OneSpan Inc. has a 1-year low of $9.48 and a 1-year high of $20.37. The company has a 50-day moving average of $18.50 and a 200-day moving average of $17.30. The company has a market capitalization of $607.38 million, a P/E ratio of 21.50 and a beta of 0.83.

Analyst Ratings Changes

Several research firms recently issued reports on OSPN. StockNews.com downgraded shares of OneSpan from a "strong-buy" rating to a "buy" rating in a research note on Monday, March 3rd. Rosenblatt Securities boosted 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, OneSpan presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.63.

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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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