TriNet Group (NYSE:TNET) Earns “Buy” Rating from Needham & Company LLC

TriNet Group (NYSE:TNET)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They presently have a $140.00 price objective on the business services provider’s stock. Needham & Company LLC’s target price points to a potential upside of 45.83% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. TD Cowen decreased their price target on TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. decreased their price target on TriNet Group from $107.00 to $103.00 and set an “underweight” rating for the company in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $118.40.

TriNet Group Trading Up 0.9 %

Shares of NYSE:TNET opened at $96.00 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. The company’s 50-day moving average price is $100.30 and its 200 day moving average price is $110.05. The company has a market cap of $4.85 billion, a PE ratio of 15.74 and a beta of 1.17. TriNet Group has a fifty-two week low of $91.59 and a fifty-two week high of $134.67.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.29. The company had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $301.76 million. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%. Sell-side analysts anticipate that TriNet Group will post 5.13 earnings per share for the current year.

Insider Activity at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total value of $39,937.50. Following the transaction, the director now directly owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. The disclosure for this sale can be found here. Company insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On TriNet Group

A number of institutional investors have recently bought and sold shares of the stock. Aristides Capital LLC purchased a new position in TriNet Group in the 2nd quarter worth about $258,000. Point72 Asset Management L.P. acquired a new stake in TriNet Group during the 2nd quarter worth about $20,610,000. Creative Planning grew its stake in TriNet Group by 62.1% during the 2nd quarter. Creative Planning now owns 3,557 shares of the business services provider’s stock valued at $356,000 after acquiring an additional 1,362 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in TriNet Group during the 2nd quarter valued at about $4,348,000. Finally, Select Equity Group L.P. acquired a new position in shares of TriNet Group in the 2nd quarter valued at about $6,652,000. Hedge funds and other institutional investors 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.