TriNet Group’s (TNET) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of TriNet Group (NYSE:TNET) in a research note released on Thursday morning,Benzinga reports.

Separately, TD Cowen lowered shares of TriNet Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $104.00 to $74.00 in a research note on Tuesday, February 18th.

TriNet Group Stock Performance

NYSE:TNET opened at $74.89 on Thursday. The firm has a 50-day moving average of $83.85 and a two-hundred day moving average of $90.24. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $3.71 billion, a P/E ratio of 21.90 and a beta of 1.26. TriNet Group has a 1-year low of $65.43 and a 1-year high of $134.67.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The firm had revenue of $252.00 million during the quarter, compared to the consensus estimate of $225.72 million. On average, research analysts expect that TriNet Group will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the sale, the director now directly owns 36,991 shares of the company’s stock, valued at approximately $2,565,695.76. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffery Jon Hayward sold 7,784 shares of TriNet Group stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $89.57, for a total transaction of $697,212.88. Following the completion of the transaction, the chief technology officer now directly owns 21,769 shares of the company’s stock, valued at $1,949,849.33. This trade represents a 26.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,748 shares of company stock worth $833,436 over the last quarter. 37.10% of the stock is owned by corporate insiders.

Institutional Trading of TriNet Group

Several hedge funds have recently made changes to their positions in the stock. TD Private Client Wealth LLC increased its position in TriNet Group by 25.5% in the third quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock worth $58,000 after buying an additional 121 shares during the period. Avion Wealth grew its position in shares of TriNet Group by 14.9% during the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock worth $98,000 after acquiring an additional 140 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of TriNet Group by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,344 shares of the business services provider’s stock worth $304,000 after acquiring an additional 149 shares during the period. Franklin Resources Inc. lifted its position in TriNet Group by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider’s stock valued at $499,000 after purchasing an additional 169 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in TriNet Group by 2.6% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,731 shares of the business services provider’s stock valued at $702,000 after purchasing an additional 196 shares during the period. 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.