TriNet Group (NYSE:TNET) Rating Lowered to Hold at Needham & Company LLC

Needham & Company LLC cut shares of TriNet Group (NYSE:TNET) from a buy rating to a hold rating in a research report report published on Monday morning, Marketbeat.com reports. They currently have $140.00 price objective on the business services provider’s stock.

Separately, JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 price objective on shares of TriNet Group in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $113.20.

TriNet Group Trading Up 2.9 %

Shares of TriNet Group stock opened at $82.66 on Monday. TriNet Group has a twelve month low of $74.32 and a twelve month high of $134.67. The firm’s 50-day moving average price is $96.79 and its 200 day moving average price is $102.53. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84. The firm has a market capitalization of $4.11 billion, a PE ratio of 15.61 and a beta of 1.17.

TriNet Group (NYSE:TNET) last released its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.29. TriNet Group had a return on equity of 261.74% and a net margin of 5.29%. The business had revenue of $310.00 million for the quarter, compared to the consensus estimate of $301.76 million. On average, sell-side analysts predict that TriNet Group will post 5.13 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Tuesday, October 1st. TriNet Group’s payout ratio is currently 19.27%.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 375 shares of the company’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 completion of the sale, the director now owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the sale, the director now owns 37,966 shares in the company, valued at $4,043,379. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

Institutional Trading of TriNet Group

A number of hedge funds and other institutional investors have recently modified their holdings of TNET. Jane Street Group LLC boosted its stake in TriNet Group by 67.7% during the first quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock worth $152,354,000 after buying an additional 464,289 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of TriNet Group by 960.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock worth $31,269,000 after acquiring an additional 213,752 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of TriNet Group during the 2nd quarter worth approximately $20,610,000. Earnest Partners LLC increased its holdings in TriNet Group by 19.8% in the 1st quarter. Earnest Partners LLC now owns 898,335 shares of the business services provider’s stock valued at $119,020,000 after purchasing an additional 148,779 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in TriNet Group by 9.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,217,214 shares of the business services provider’s stock valued at $121,721,000 after purchasing an additional 103,809 shares during the period. 96.81% of the stock is owned by institutional investors and hedge funds.

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.