Needham & Company LLC Reiterates Hold Rating for TriNet Group (NYSE:TNET)

Needham & Company LLC reaffirmed their hold rating on shares of TriNet Group (NYSE:TNET - Free Report) in a research note published on Friday morning,Benzinga reports.

A number of other equities research analysts have also issued reports on TNET. TD Cowen boosted their target price on TriNet Group from $92.00 to $104.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $103.00 target price on shares of TriNet Group in a research report on Tuesday, October 22nd.

TriNet Group Price Performance

Shares of TNET traded down $5.28 during midday trading on Friday, reaching $72.32. The stock had a trading volume of 745,763 shares, compared to its average volume of 325,508. TriNet Group has a 52 week low of $71.27 and a 52 week high of $134.67. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The firm's 50 day moving average price is $90.94 and its 200-day moving average price is $93.39. The company has a market capitalization of $3.59 billion, a P/E ratio of 13.93 and a beta of 1.21.

TriNet Group (NYSE:TNET - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.02. The company had revenue of $252.00 million for the quarter, compared to the consensus estimate of $225.72 million. TriNet Group had a return on equity of 248.94% and a net margin of 5.29%. On average, analysts forecast that TriNet Group will post 4.14 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, January 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. TriNet Group's dividend payout ratio is 19.27%.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,813 shares of TriNet Group stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $92.74, for a total transaction of $168,137.62. Following the transaction, the chief technology officer now owns 36,951 shares in the company, valued at approximately $3,426,835.74. The trade was a 4.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 11,942 shares of company stock worth $1,083,506. 37.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TNET. Wealthfront Advisers LLC acquired a new position in TriNet Group in the 4th quarter worth about $456,581,000. Capital Research Global Investors increased its position in TriNet Group by 98.2% in the 4th quarter. Capital Research Global Investors now owns 2,822,839 shares of the business services provider's stock worth $256,229,000 after purchasing an additional 1,398,573 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in TriNet Group in the 4th quarter worth about $35,567,000. Massachusetts Financial Services Co. MA increased its position in TriNet Group by 32.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider's stock worth $156,018,000 after purchasing an additional 391,720 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in TriNet Group by 23.1% in the 4th quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider's stock worth $147,674,000 after purchasing an additional 305,165 shares during 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.