TriNet Group (NYSE:TNET) Research Coverage Started at Truist Financial

Truist Financial initiated coverage on shares of TriNet Group (NYSE:TNET) in a research report released on Friday morning, MarketBeat.com reports. The firm issued a hold rating and a $62.00 target price on the business services provider’s stock.

TNET has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d+)” rating on shares of TriNet Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on TriNet Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. UBS Group lowered their target price on TriNet Group from $69.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Finally, Zacks Research upgraded shares of TriNet Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $66.00.

TriNet Group Price Performance

Shares of NYSE:TNET opened at $57.05 on Friday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 21.05 and a beta of 0.84. The firm has a fifty day moving average price of $59.95 and a 200 day moving average price of $67.37. TriNet Group has a fifty-two week low of $54.22 and a fifty-two week high of $97.02. The company has a debt-to-equity ratio of 8.14, a quick ratio of 1.11 and a current ratio of 1.11.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.72 by $0.39. TriNet Group had a net margin of 2.64% and a return on equity of 212.38%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $261.92 million. During the same quarter in the previous year, the company earned $1.17 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. As a group, sell-side analysts expect that TriNet Group will post 3.04 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, October 1st. TriNet Group’s payout ratio is presently 40.59%.

Insider Activity

In other news, SVP Sidney A. Majalya sold 775 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $65.93, for a total value of $51,095.75. Following the sale, the senior vice president owned 20,933 shares of the company’s stock, valued at approximately $1,380,112.69. This represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeffery Jon Hayward sold 1,437 shares of TriNet Group stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $57.51, for a total transaction of $82,641.87. Following the transaction, the chief technology officer directly owned 27,922 shares of the company’s stock, valued at approximately $1,605,794.22. This represents a 4.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,398 shares of company stock worth $200,433. 37.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TriNet Group

Several hedge funds and other institutional investors have recently modified their holdings of TNET. Mirae Asset Global Investments Co. Ltd. boosted its holdings in TriNet Group by 106.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 445 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 229 shares during the period. Quarry LP increased its stake in TriNet Group by 524.7% in the third quarter. Quarry LP now owns 456 shares of the business services provider’s stock worth $31,000 after purchasing an additional 383 shares during the period. CWM LLC lifted its position in shares of TriNet Group by 140.5% during the second quarter. CWM LLC now owns 582 shares of the business services provider’s stock worth $43,000 after purchasing an additional 340 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of TriNet Group during the second quarter valued at $43,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of TriNet Group during the third quarter valued at $46,000. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

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.