TriNet Group (NYSE:TNET) Shares Gap Down – Here’s What Happened

Shares of TriNet Group, Inc. (NYSE:TNET) gapped down before the market opened on Thursday . The stock had previously closed at $92.13, but opened at $86.97. TriNet Group shares last traded at $81.99, with a volume of 115,224 shares.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a research note on Tuesday, October 22nd. TD Cowen increased their price objective on TriNet Group from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of TriNet Group in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, TriNet Group currently has an average rating of “Hold” and an average price target of $117.00.

TriNet Group Trading Down 1.4 %

The firm has a fifty day simple moving average of $91.60 and a two-hundred day simple moving average of $93.91. The stock has a market cap of $3.84 billion, a PE ratio of 14.90 and a beta of 1.21. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. TriNet Group had a return on equity of 248.94% and a net margin of 5.29%. As a group, equities analysts expect that TriNet Group, Inc. will post 4.14 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd were issued a $0.25 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. TriNet Group’s payout ratio is currently 19.27%.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 2,345 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $93.03, for a total transaction of $218,155.35. Following the transaction, the chief technology officer now directly owns 34,606 shares in the company, valued at approximately $3,219,396.18. This represents a 6.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 11,942 shares of company stock worth $1,083,506. 37.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TriNet Group

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in shares of TriNet Group by 11.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock worth $37,366,000 after buying an additional 39,351 shares during the last quarter. Summit Global Investments purchased a new position in shares of TriNet Group in the 3rd quarter valued at approximately $605,000. US Bancorp DE lifted its stake in shares of TriNet Group by 9,893.1% in the 3rd quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock valued at $698,000 after purchasing an additional 7,123 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of TriNet Group by 32.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock valued at $156,018,000 after purchasing an additional 391,720 shares during the period. Finally, Simcoe Capital Management LLC purchased a new position in shares of TriNet Group in the 3rd quarter valued at approximately $16,966,000. 96.81% of the stock is currently owned by institutional investors.

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.