TriNet Group (NYSE:TNET) Stock Price Up 4.7% After Analyst Upgrade

TriNet Group, Inc. (NYSE:TNET) shot up 4.7% during mid-day trading on Wednesday after TD Cowen raised their price target on the stock from $92.00 to $104.00. TD Cowen currently has a buy rating on the stock. TriNet Group traded as high as $94.77 and last traded at $93.21. 78,522 shares were traded during trading, a decline of 74% from the average session volume of 300,265 shares. The stock had previously closed at $89.04.

Several other equities analysts have also weighed in on the stock. Needham & Company LLC lowered shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research report on Monday, October 28th. JPMorgan Chase & Co. restated an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a report on Tuesday, October 22nd. One 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $117.00.

Insider Activity

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. This trade represents a 5.38 % decrease in their ownership of the stock. The sale 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, October 30th. The shares were sold at an average price of $86.23, for a total transaction of $32,336.25. Following the completion of the sale, the director now directly owns 37,591 shares of the company’s stock, valued at approximately $3,241,471.93. The trade was a 0.99 % 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

Several large investors have recently modified their holdings of the company. TD Private Client Wealth LLC increased its holdings in shares of TriNet Group by 25.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock worth $58,000 after purchasing an additional 121 shares during the period. Barclays PLC boosted its position in TriNet Group by 201.0% in the third quarter. Barclays PLC now owns 94,649 shares of the business services provider’s stock valued at $9,179,000 after buying an additional 63,201 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in TriNet Group by 13.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 2,933 shares of the business services provider’s stock worth $284,000 after acquiring an additional 339 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of TriNet Group by 16.2% during the third quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock worth $128,169,000 after purchasing an additional 184,186 shares during the last quarter. Finally, Stadium Capital Management LLC increased its position in TriNet Group by 821.8% in the 3rd quarter. Stadium Capital Management LLC now owns 100,823 shares of the business services provider’s stock valued at $9,777,000 after acquiring an additional 89,885 shares in the last quarter. 96.81% of the stock is owned by institutional investors.

TriNet Group Trading Up 5.8 %

The business’s fifty day moving average is $93.60 and its two-hundred day moving average is $98.98. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 18.16 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70.

TriNet Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Tuesday, October 1st. TriNet Group’s dividend payout ratio is presently 19.27%.

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.