TriNet Group (NYSE:TNET) Shares Gap Down After Analyst Downgrade

TriNet Group, Inc. (NYSE:TNET) shares gapped down prior to trading on Friday after Needham & Company LLC lowered their price target on the stock from $150.00 to $140.00. The stock had previously closed at $126.78, but opened at $112.85. Needham & Company LLC currently has a buy rating on the stock. TriNet Group shares last traded at $111.23, with a volume of 108,033 shares.

TNET has been the subject of a number of other research reports. TD Cowen upped their price target on TriNet Group from $129.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Stifel Nicolaus increased their target price on TriNet Group from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Friday, February 16th. 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.50.

Insider Activity

In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of TriNet Group stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the sale, the executive vice president now owns 48,562 shares of the company’s stock, valued at approximately $6,064,422.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Samantha Wellington sold 14,271 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 48,562 shares in the company, valued at $6,064,422.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alexander G. Warren sold 2,385 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total value of $293,521.95. Following the completion of the sale, the senior vice president now owns 18,365 shares of the company’s stock, valued at $2,260,180.55. The disclosure for this sale can be found here. Insiders have sold a total of 31,052 shares of company stock worth $3,837,142 over the last quarter. 37.10% of the stock is currently owned by corporate insiders.

Institutional Trading of TriNet Group

Institutional investors have recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in shares of TriNet Group during the 4th quarter worth approximately $26,000. Avion Wealth raised its holdings in shares of TriNet Group by 30.8% in the 3rd quarter. Avion Wealth now owns 463 shares of the business services provider’s stock valued at $53,000 after buying an additional 109 shares during the period. PNC Financial Services Group Inc. lifted its stake in TriNet Group by 31.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 730 shares of the business services provider’s stock worth $85,000 after acquiring an additional 176 shares in the last quarter. Group One Trading L.P. purchased a new position in TriNet Group during the 3rd quarter valued at about $90,000. Finally, Blue Trust Inc. grew its position in TriNet Group by 15.7% in the 4th quarter. Blue Trust Inc. now owns 798 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Price Performance

The stock’s 50 day simple moving average is $127.99 and its 200-day simple moving average is $119.38. The company has a debt-to-equity ratio of 12.62, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $5.33 billion, a PE ratio of 16.25 and a beta of 1.09.

TriNet Group (NYSE:TNET) last released its earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.46. The company had revenue of $326.00 million for the quarter, compared to analyst estimates of $300.36 million. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. As a group, equities analysts forecast that TriNet Group, Inc. will post 5.79 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

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

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.