TriNet Group’s (TNET) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of TriNet Group (NYSE:TNET) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $140.00 price target on the business services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of TriNet Group from $107.00 to $103.00 and set an underweight rating for the company in a research note on Tuesday, August 20th. TD Cowen decreased their target price on TriNet Group from $132.00 to $118.00 and set a buy rating for the company in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $118.40.

TriNet Group Price Performance

TriNet Group stock opened at $97.82 on Wednesday. TriNet Group has a 1 year low of $91.59 and a 1 year high of $134.67. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a 50 day moving average price of $100.29 and a 200 day moving average price of $109.83. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 16.04 and a beta of 1.17.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.29. The company had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $301.76 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. Sell-side analysts predict that TriNet Group will post 5.13 earnings per share for the current year.

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Monday, July 1st. TriNet Group’s payout ratio is 16.39%.

Insider Activity at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total transaction of $39,937.50. Following the sale, the director now directly owns 37,966 shares in the company, valued at approximately $4,043,379. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the transaction, the director now owns 37,966 shares of the company’s stock, valued at $4,043,379. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TNET. Principal Securities Inc. bought a new stake in shares of TriNet Group in the 4th quarter valued at approximately $26,000. Rothschild Investment LLC bought a new stake in TriNet Group during the second quarter valued at $45,000. Blue Trust Inc. raised its holdings in shares of TriNet Group by 24.9% during the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after purchasing an additional 104 shares during the period. Avion Wealth lifted its position in shares of TriNet Group by 19.2% in the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after buying an additional 129 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of TriNet Group in the 1st quarter valued at about $81,000. Institutional investors 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.