Onity Group (NYSE:ONIT) Rating Increased to Strong-Buy at Texas Capital

Onity Group (NYSE:ONIT) was upgraded by investment analysts at Texas Capital to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research analysts also recently weighed in on ONIT. Wall Street Zen downgraded shares of Onity Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Keefe, Bruyette & Woods cut their target price on shares of Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Weiss Ratings downgraded shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, BTIG Research boosted their target price on shares of Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.67.

Onity Group Trading Down 0.4%

Shares of ONIT stock opened at $37.04 on Wednesday. The firm has a 50-day moving average price of $39.60 and a 200 day moving average price of $42.41. Onity Group has a twelve month low of $33.22 and a twelve month high of $54.10. The company has a market capitalization of $312.21 million, a price-to-earnings ratio of 1.91 and a beta of 1.45. The company has a current ratio of 46.07, a quick ratio of 46.07 and a debt-to-equity ratio of 19.46.

Onity Group (NYSE:ONIT) last announced its earnings results on Tuesday, May 5th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($1.63). Onity Group had a net margin of 15.75% and a return on equity of 9.10%. The firm had revenue of $278.00 million during the quarter, compared to analyst estimates of $290.10 million.

Institutional Trading of Onity Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in Onity Group by 60.3% in the 4th quarter. CWM LLC now owns 758 shares of the company’s stock valued at $35,000 after buying an additional 285 shares during the period. AlphaQuest LLC purchased a new stake in shares of Onity Group during the 3rd quarter worth about $77,000. State of Wyoming purchased a new stake in shares of Onity Group during the 2nd quarter worth about $119,000. BNP Paribas Financial Markets grew its holdings in shares of Onity Group by 367.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock worth $121,000 after purchasing an additional 2,486 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Onity Group during the 2nd quarter worth about $184,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.

Onity Group Company Profile

Onity Group, listed on the New York Stock Exchange under the ticker ONIT, is a technology company specializing in enterprise operations management software. Its platform is designed to help legal, finance, human resources and corporate services teams automate and streamline mission-critical workflows. Leveraging artificial intelligence and no-code automation tools, Onity’s solutions aim to reduce manual processes, improve visibility and ensure compliance across complex organizational structures.

The company’s flagship offerings include contract lifecycle management, matter management, e-billing and spend management, as well as enterprise deal management.