TriNet Group (NYSE:TNET) Shares Gap Down - Here's What Happened

TriNet Group, Inc. (NYSE:TNET - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $91.63, but opened at $81.65. TriNet Group shares last traded at $77.33, with a volume of 67,382 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TNET shares. 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. Needham & Company LLC restated a "buy" rating and set a $140.00 target price on shares of TriNet Group in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, TriNet Group has an average rating of "Hold" and a consensus price target of $118.40.

TriNet Group Price Performance

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 fifty day moving average of $97.10 and a 200 day moving average of $103.26. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 13.06 and a beta of 1.17.

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, beating analysts' consensus estimates of $0.98 by $0.29. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%. The firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $301.76 million. On average, analysts expect that TriNet Group, Inc. will post 5.13 EPS for the current fiscal year.

TriNet Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. TriNet Group's dividend payout ratio (DPR) is currently 16.89%.

Insider Buying and Selling

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 value of $482,161.68. Following the sale, the chief financial officer now owns 82,409 shares of the company's stock, valued at $8,484,830.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction that occurred 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 sale, 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the company'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 completion of the sale, the director now directly owns 37,966 shares in the company, valued at approximately $4,043,379. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TriNet Group

A number of institutional investors have recently added to or reduced their stakes in TNET. BNP Paribas Financial Markets boosted its stake in shares of TriNet Group by 23.2% during the first quarter. BNP Paribas Financial Markets now owns 43,952 shares of the business services provider's stock valued at $5,823,000 after acquiring an additional 8,275 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in TriNet Group by 14.5% during the 2nd 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 buying an additional 20,680 shares during the period. Boston Partners boosted 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 acquiring an additional 18,586 shares during the period. Harbor Capital Advisors Inc. increased its holdings 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 valued at $944,000 after purchasing an additional 6,933 shares during the period. Finally, Van ECK Associates Corp increased its stake in 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 buying an additional 25,606 shares during the last quarter. Institutional investors and hedge funds 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.