TriNet Group (NYSE:TNET) PT Lowered to $92.00

TriNet Group (NYSE:TNET - Free Report) had its price target cut by TD Cowen from $110.00 to $92.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the business services provider's stock.

A number of other research firms also recently weighed in on TNET. JPMorgan Chase & Co. reissued an "underweight" rating and set a $103.00 target price on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC cut shares of TriNet Group from a "buy" rating to a "hold" rating and set a $140.00 price target on the stock. in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $113.20.

TriNet Group Stock Up 2.9 %

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

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

TriNet Group Announces Dividend

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, October 1st. TriNet Group's dividend payout ratio is 19.27%.

Insiders Place Their Bets

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction that occurred on Thursday, August 29th. The shares were 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 in the company, valued at $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the company's stock in a transaction dated 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $39,937.50. Following the transaction, the director now directly owns 37,966 shares in the company, valued at approximately $4,043,379. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company's stock.

Hedge Funds Weigh In On TriNet Group

A number of large investors have recently bought and sold shares of 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 purchasing an additional 8,275 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of TriNet Group by 14.5% in 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 acquiring an additional 20,680 shares in the last quarter. Boston Partners increased its stake 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 purchasing an additional 18,586 shares in the last quarter. Harbor Capital Advisors Inc. lifted 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 purchasing an additional 6,933 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in 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 acquiring an additional 25,606 shares in the last quarter. 96.81% of the stock is owned by hedge funds and other 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.