TD Cowen Forecasts Strong Price Appreciation for TriNet Group (NYSE:TNET) Stock

TriNet Group (NYSE:TNET) had its price objective hoisted by TD Cowen from $92.00 to $104.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC lowered TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price for the company. in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $117.00.

TriNet Group Price Performance

TriNet Group stock opened at $93.02 on Wednesday. The firm’s fifty day moving average is $93.51 and its 200 day moving average is $98.90. TriNet Group has a 52-week low of $74.32 and a 52-week high of $134.67. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 17.79 and a beta of 1.20.

TriNet Group Dividend Announcement

The company 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. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. TriNet Group’s payout ratio is 19.27%.

Insider Buying and Selling

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the transaction, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the transaction, the director now owns 37,591 shares of the company’s stock, valued at approximately $3,241,471.93. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its position in TriNet Group by 14.5% in the second quarter. Wedge Capital Management L L P NC now owns 163,600 shares of the business services provider’s stock valued at $16,360,000 after acquiring an additional 20,680 shares during the last quarter. Boston Partners lifted its holdings in shares of TriNet Group by 20.8% during the first quarter. Boston Partners now owns 108,157 shares of the business services provider’s stock worth $14,319,000 after purchasing an additional 18,586 shares during the period. US Bancorp DE lifted its stake in shares of TriNet Group by 9,893.1% in the 3rd quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock worth $698,000 after acquiring an additional 7,123 shares during the period. Summit Global Investments acquired a new stake in TriNet Group in the third quarter valued at about $605,000. Finally, Harbor Capital Advisors Inc. raised its position in TriNet Group by 276.7% in the second quarter. Harbor Capital Advisors Inc. now owns 9,439 shares of the business services provider’s stock worth $944,000 after acquiring an additional 6,933 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

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.