TriNet Group (NYSE:TNET) Price Target Cut to $92.00 by Analysts at TD Cowen

TriNet Group (NYSE:TNET) had its target price reduced by research analysts at TD Cowen from $110.00 to $92.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. TD Cowen’s price objective suggests a potential upside of 13.64% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a research note 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 target price on the stock. in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $113.20.

TriNet Group Price Performance

TriNet Group stock traded up $0.65 during trading on Monday, reaching $80.96. The company had a trading volume of 240,459 shares, compared to its average volume of 283,463. The firm’s 50-day simple moving average is $96.79 and its 200 day simple moving average is $102.53. TriNet Group has a 1-year low of $74.32 and a 1-year high of $134.67. The firm has a market capitalization of $4.02 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 (NYSE:TNET) last announced its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.29. TriNet Group had a net margin of 5.29% and a return on equity of 261.74%. The company had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $301.76 million. As a group, equities research analysts anticipate that TriNet Group will post 5.13 earnings per share for the current fiscal year.

Insider Activity at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the company’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 owns 37,966 shares of the company’s stock, valued at $4,043,379. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the sale, the director now owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at $8,484,830.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is owned by insiders.

Institutional Trading of TriNet Group

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of TriNet Group by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider’s stock worth $376,053,000 after buying an additional 52,240 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of TriNet Group by 9.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,217,214 shares of the business services provider’s stock worth $121,721,000 after buying an additional 103,809 shares during the period. Jane Street Group LLC increased its stake in shares of TriNet Group by 67.7% during the first quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock worth $152,354,000 after buying an additional 464,289 shares during the period. Earnest Partners LLC increased its stake in shares of TriNet Group by 1.9% during the second quarter. Earnest Partners LLC now owns 915,043 shares of the business services provider’s stock worth $91,504,000 after buying an additional 16,708 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of TriNet Group by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 823,019 shares of the business services provider’s stock worth $82,304,000 after buying an additional 9,386 shares during the period. Institutional investors and hedge funds 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.