Onespan (OSPN) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Onespan (NASDAQ:OSPN) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

According to Zacks, “OneSpan Inc. provides software services. The Company designs and develops security software and e-signature solutions which protects devices and financial transactions from fraud and misuse. It delivers risk analytics, mobile security and authentication services. OneSpan Inc., formerly known as Vasco Data Sec, is based in Chicago, United States. “

Separately, ValuEngine downgraded Onespan from a strong-buy rating to a buy rating in a report on Thursday, November 1st.

Shares of NASDAQ OSPN opened at $15.84 on Friday. The firm has a market capitalization of $619.47 million, a P/E ratio of 36.84, a P/E/G ratio of 4.53 and a beta of 1.76. Onespan has a 52-week low of $11.55 and a 52-week high of $25.45.

Onespan (NASDAQ:OSPN) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Onespan had a negative net margin of 12.85% and a positive return on equity of 6.38%. The business had revenue of $52.50 million for the quarter, compared to analysts’ expectations of $54.09 million. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that Onespan will post 0.34 earnings per share for the current fiscal year.

In other news, Director T Kendall Hunt sold 282,486 shares of Onespan stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $17.70, for a total transaction of $5,000,002.20. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 471,735 shares of company stock worth $8,392,124 in the last quarter. 22.48% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new position in shares of Onespan during the second quarter valued at $139,000. SG Americas Securities LLC purchased a new position in shares of Onespan during the second quarter valued at $148,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Onespan during the second quarter valued at $167,000. Strs Ohio purchased a new position in shares of Onespan during the second quarter valued at $180,000. Finally, Bank of America Corp DE purchased a new position in shares of Onespan during the second quarter valued at $187,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

Onespan Company Profile

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. It enables financial institutions and other organizations to succeed by making bold advances in their digital transformation. The company offers DIGIPASS software authenticators that balance the need for stronger mobile application security; DIGIPASS for Apps, a software development kit, which allows application developers to natively integrate security features; DIGIPASS for Mobile, a mobile authenticator that operates as a discrete mobile application; IDENTIKEY Risk Manager, an anti-fraud solution; and application shielding with runtime application self-protection that neutralizes the threat of attacks on mobile apps.

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