Needham & Company LLC Lowers TriNet Group (NYSE:TNET) Price Target to $140.00

TriNet Group (NYSE:TNET) had its target price cut by Needham & Company LLC from $150.00 to $140.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus upped their price objective on shares of TriNet Group from $117.00 to $121.00 and gave the company a buy rating in a research note on Friday, February 16th. TD Cowen upped their price objective on shares of TriNet Group from $129.00 to $140.00 and gave the company an outperform rating in a research note on Monday, March 4th. Finally, StockNews.com raised shares of TriNet Group from a hold rating to a buy rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $117.50.

TriNet Group Price Performance

Shares of TriNet Group stock opened at $105.48 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 12.62. The company’s 50-day moving average price is $127.99 and its two-hundred day moving average price is $119.38. TriNet Group has a 52 week low of $79.00 and a 52 week high of $134.67. The stock has a market cap of $5.33 billion, a PE ratio of 16.25 and a beta of 1.09.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.46. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. The firm had revenue of $326.00 million for the quarter, compared to the consensus estimate of $300.36 million. As a group, sell-side analysts anticipate that TriNet Group will post 5.79 EPS for the current fiscal year.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group’s dividend payout ratio (DPR) is 15.41%.

Insider Transactions at TriNet Group

In other news, Director Wayne B. Lowell sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total value of $1,222,200.00. Following the completion of the sale, the director now directly owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total value of $1,782,162.48. Following the transaction, the executive vice president now owns 48,562 shares in the company, valued at $6,064,422.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne B. Lowell sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $122.22, for a total value of $1,222,200.00. Following the completion of the transaction, the director now owns 84,766 shares in the company, valued at approximately $10,360,100.52. The disclosure for this sale can be found here. Insiders sold 31,052 shares of company stock valued at $3,837,142 over the last three months. 37.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriNet Group

Hedge funds have recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in TriNet Group in the fourth quarter worth approximately $26,000. Avion Wealth grew its holdings in TriNet Group by 30.8% during the third quarter. Avion Wealth now owns 463 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 109 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in TriNet Group by 31.8% during the third quarter. PNC Financial Services Group Inc. now owns 730 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 176 shares during the last quarter. Group One Trading L.P. acquired a new position in TriNet Group during the third quarter valued at approximately $90,000. Finally, Blue Trust Inc. grew its holdings in TriNet Group by 15.7% during the fourth quarter. Blue Trust Inc. now owns 798 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 108 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.