TD Cowen Cuts TriNet Group (NYSE:TNET) Price Target to $92.00

TriNet Group (NYSE:TNET) had its target price decreased by TD Cowen from $110.00 to $92.00 in a research note issued to investors on Monday, Benzinga reports. TD Cowen currently has a buy rating on the business services provider’s stock.

Several other research firms have also recently commented on TNET. JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC cut TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, TriNet Group has an average rating of “Hold” and a consensus price target of $113.20.

TriNet Group Stock Down 1.4 %

TNET opened at $85.64 on Monday. TriNet Group has a 12 month low of $74.32 and a 12 month high of $134.67. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $4.25 billion, a P/E ratio of 16.50 and a beta of 1.17. The stock’s 50 day moving average price is $96.11 and its 200 day moving average price is $101.78.

TriNet Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, October 1st. TriNet Group’s dividend payout ratio is presently 19.27%.

Insider Transactions at TriNet Group

In other 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 directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On TriNet Group

Several large investors have recently modified their holdings of TNET. Allspring Global Investments Holdings LLC boosted its position in shares of TriNet Group by 18.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 23,462 shares of the business services provider’s stock worth $3,109,000 after buying an additional 3,646 shares during the period. Van ECK Associates Corp boosted its position in shares of TriNet Group by 108.1% in the first quarter. Van ECK Associates Corp now owns 49,289 shares of the business services provider’s stock worth $6,531,000 after buying an additional 25,606 shares during the period. BNP Paribas Financial Markets boosted its position in shares of TriNet Group by 23.2% in the first quarter. BNP Paribas Financial Markets now owns 43,952 shares of the business services provider’s stock worth $5,823,000 after buying an additional 8,275 shares during the period. Jennison Associates LLC boosted its position in shares of TriNet Group by 1.8% in the first quarter. Jennison Associates LLC now owns 5,663 shares of the business services provider’s stock worth $750,000 after buying an additional 99 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of TriNet Group in the first quarter worth $1,936,000. 96.81% of the stock is owned by institutional investors.

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.