TriNet Group (NYSE:TNET) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of TriNet Group (NYSE:TNET) in a research note issued to investors on Monday, Benzinga reports. Needham & Company LLC currently has a $140.00 price target on the business services provider’s stock.

A number of other equities analysts have also recently commented on TNET. TD Cowen decreased their price target on TriNet Group from $132.00 to $118.00 and set a buy rating on the stock in a research note on Monday, June 24th. StockNews.com downgraded shares of TriNet Group from a buy rating to a hold rating in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $119.20.

TriNet Group Stock Performance

NYSE TNET opened at $102.12 on Monday. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 16.74 and a beta of 1.19. The company has a 50-day simple moving average of $103.96 and a two-hundred day simple moving average of $114.20. The company has a quick ratio of 1.06, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. TriNet Group has a 12-month low of $96.76 and a 12-month high of $134.67.

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 1st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.98%. TriNet Group’s dividend payout ratio is presently 16.39%.

Insider Buying and Selling

In related news, SVP Alexander G. Warren sold 1,867 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $103.74, for a total transaction of $193,682.58. Following the transaction, the senior vice president now owns 32,661 shares in the company, valued at $3,388,252.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Samantha Wellington 7,064 shares of TriNet Group stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alexander G. Warren sold 1,867 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $103.74, for a total transaction of $193,682.58. Following the sale, the senior vice president now owns 32,661 shares in the company, valued at approximately $3,388,252.14. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TNET. Principal Securities Inc. bought a new position in shares of TriNet Group during the fourth quarter valued at approximately $26,000. Rothschild Investment LLC bought a new position in TriNet Group during the 2nd quarter valued at approximately $45,000. Blue Trust Inc. raised its stake in TriNet Group by 24.9% during the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after buying an additional 104 shares during the last quarter. Avion Wealth boosted its holdings in TriNet Group by 22.9% in the fourth quarter. Avion Wealth now owns 569 shares of the business services provider’s stock worth $68,000 after acquiring an additional 106 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of TriNet Group in the first quarter worth $81,000. 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.