TriNet Group (NYSE:TNET) Rating Lowered to “Hold” at TD Cowen

TriNet Group (NYSE:TNET) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They presently have a $74.00 target price on the business services provider’s stock, down from their previous target price of $104.00. TD Cowen’s price objective indicates a potential downside of 4.34% from the stock’s previous close.

TNET has been the topic of several other reports. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of TriNet Group in a research note on Friday.

TriNet Group Price Performance

Shares of NYSE TNET opened at $77.35 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 14.90 and a beta of 1.21. The company’s 50-day moving average price is $90.94 and its 200 day moving average price is $93.39. TriNet Group has a 52 week low of $74.32 and a 52 week high of $134.67.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a return on equity of 248.94% and a net margin of 5.29%. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $225.72 million. As a group, research analysts forecast that TriNet Group will post 4.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Jeffery Jon Hayward sold 1,813 shares of TriNet Group stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $92.74, for a total value of $168,137.62. Following the completion of the sale, the chief technology officer now owns 36,951 shares in the company, valued at approximately $3,426,835.74. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 11,942 shares of company stock worth $1,083,506 over the last ninety days. Corporate insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TNET. Wealthfront Advisers LLC bought a new position in shares of TriNet Group during the fourth quarter worth about $456,581,000. Vanguard Group Inc. raised its stake in TriNet Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider’s stock valued at $271,585,000 after buying an additional 36,216 shares in the last quarter. Capital Research Global Investors lifted its holdings in TriNet Group by 98.2% during the 4th quarter. Capital Research Global Investors now owns 2,822,839 shares of the business services provider’s stock worth $256,229,000 after buying an additional 1,398,573 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of TriNet Group by 18.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,898,005 shares of the business services provider’s stock worth $172,282,000 after acquiring an additional 289,071 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of TriNet Group by 23.1% in the 4th quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider’s stock valued at $147,674,000 after acquiring an additional 305,165 shares during the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

About TriNet Group

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.