TriNet Group (NYSE:TNET) Price Target Cut to $140.00

TriNet Group (NYSE:TNET) had its target price reduced by Needham & Company LLC from $150.00 to $140.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

TNET has been the topic of several other reports. TD Cowen upped their target price on TriNet Group from $129.00 to $140.00 and gave the company an outperform rating in a research report on Monday, March 4th. StockNews.com upgraded TriNet Group from a hold rating to a buy rating in a research note on Monday, February 5th. Finally, Stifel Nicolaus lifted their target price on TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TriNet Group currently has an average rating of Hold and an average price target of $117.50.

TriNet Group Stock Performance

Shares of TNET stock opened at $103.31 on Friday. TriNet Group has a 12-month low of $87.20 and a 12-month high of $134.67. The business’s fifty day simple moving average is $127.52 and its 200-day simple moving average is $119.27. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 12.62. The company has a market cap of $5.22 billion, a PE ratio of 16.94 and a beta of 1.09.

TriNet Group (NYSE:TNET) last announced its earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.46. TriNet Group had a return on equity of 106.58% and a net margin of 6.78%. The firm had revenue of $326.00 million for the quarter, compared to the consensus estimate of $300.36 million. Analysts expect that TriNet Group will post 5.79 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group’s dividend payout ratio is currently 16.39%.

Insider Buying and Selling at TriNet Group

In other news, SVP Alexander G. Warren sold 2,385 shares of TriNet Group stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total transaction of $293,521.95. Following the completion of the transaction, the senior vice president now directly owns 18,365 shares of the company’s stock, valued at approximately $2,260,180.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the transaction, the executive vice president now owns 48,562 shares in the company, valued at $6,064,422.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Alexander G. Warren sold 2,385 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total value of $293,521.95. Following the completion of the sale, the senior vice president now directly owns 18,365 shares in the company, valued at $2,260,180.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,052 shares of company stock valued at $3,837,142. 37.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On TriNet Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new position in TriNet Group during the fourth quarter valued at $26,000. Avion Wealth lifted its stake in TriNet Group by 30.8% in the 3rd quarter. Avion Wealth now owns 463 shares of the business services provider’s stock valued at $53,000 after buying an additional 109 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in TriNet Group by 31.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 730 shares of the business services provider’s stock worth $85,000 after buying an additional 176 shares during the last quarter. Group One Trading L.P. purchased a new stake in TriNet Group during the 3rd quarter worth approximately $90,000. Finally, Blue Trust Inc. increased its stake in TriNet Group by 15.7% during the 4th quarter. Blue Trust Inc. now owns 798 shares of the business services provider’s stock worth $93,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Company Profile

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefits law compliance; and other HR related services.