Needham & Company LLC Lowers TriNet Group (NYSE:TNET) to Hold

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

Separately, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $103.00 price objective on shares of TriNet Group in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $113.20.

TriNet Group Trading Up 2.9 %

NYSE TNET traded up $2.35 during trading hours on Monday, hitting $82.66. 1,016,898 shares of the company were exchanged, compared to its average volume of 286,796. The stock has a market cap of $4.11 billion, a PE ratio of 15.61 and a beta of 1.17. TriNet Group has a 52 week low of $74.32 and a 52 week high of $134.67. The stock has a 50-day moving average price of $96.79 and a 200 day moving average price of $102.53. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84.

TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.29. TriNet Group had a return on equity of 261.74% and a net margin of 5.29%. The company had revenue of $310.00 million during the quarter, compared to the consensus estimate of $301.76 million. Analysts forecast that TriNet Group will post 5.13 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.21%. TriNet Group's dividend payout ratio (DPR) is currently 19.27%.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the firm's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the transaction, the director now owns 37,966 shares of the company's stock, valued at approximately $4,043,379. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total transaction of $39,937.50. Following the transaction, the director now owns 37,966 shares of the company's stock, valued at approximately $4,043,379. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by corporate insiders.

Institutional Trading of TriNet Group

Several hedge funds and other institutional investors have recently made changes to their positions in TNET. BNP Paribas Financial Markets increased its position in TriNet Group by 23.2% during the 1st quarter. BNP Paribas Financial Markets now owns 43,952 shares of the business services provider's stock valued at $5,823,000 after buying an additional 8,275 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of TriNet Group by 14.5% during the second quarter. Wedge Capital Management L L P NC now owns 163,600 shares of the business services provider's stock worth $16,360,000 after acquiring an additional 20,680 shares during the last quarter. Boston Partners increased 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 valued at $14,319,000 after acquiring an additional 18,586 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of TriNet Group by 276.7% during the second quarter. Harbor Capital Advisors Inc. now owns 9,439 shares of the business services provider's stock valued at $944,000 after acquiring an additional 6,933 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of TriNet Group by 108.1% in the 1st quarter. Van ECK Associates Corp now owns 49,289 shares of the business services provider's stock valued at $6,531,000 after purchasing an additional 25,606 shares during the last quarter. Hedge funds and other 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.