UDPATE: Topeka Capital Markets Downgrades VASCO Data Security to Hold

Topeka Capital Markets has published a research report on VASCO Data Security International

and has downgraded the company from Buy to Hold. In the report, Topeka Capital Markets wrote, "With 3Q preliminary results well below consensus and full year guidance well below prior estimates, we are making significant downward revisions to our 2012/2013 estimates. As a result, we are reducing our rating to Hold from Buy based on a reduction in our price target from $12 to $7." VASCO Data Security is currently trading up 0.41 percent from Tuesday's $7.34 closing price.