TD Cowen Cuts TriNet Group (NYSE:TNET) Price Target to $118.00

TriNet Group (NYSE:TNET) had its target price reduced by TD Cowen from $132.00 to $118.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

A number of other equities analysts also recently weighed in on the company. Needham & Company LLC reduced their price target on TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a research report on Friday, April 26th. StockNews.com cut shares of TriNet Group from a buy rating to a hold rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $113.83.

TriNet Group Stock Down 1.7 %

Shares of TNET stock opened at $100.44 on Monday. TriNet Group has a 12-month low of $90.55 and a 12-month high of $134.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 6.88. The firm has a fifty day moving average of $106.77 and a 200-day moving average of $116.92. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 16.47 and a beta of 1.19.

TriNet Group (NYSE:TNET) last released its earnings results on Friday, April 26th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.36). The firm had revenue of $357.00 million for the quarter, compared to the consensus estimate of $380.41 million. TriNet Group had a return on equity of 124.38% and a net margin of 6.78%. As a group, equities research analysts predict that TriNet Group will post 4.82 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.00%. The ex-dividend date is Monday, July 1st. TriNet Group’s dividend payout ratio (DPR) is currently 16.39%.

Insider Buying and Selling at TriNet Group

In other 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 directly owns 32,661 shares in the company, valued at approximately $3,388,252.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Alexander G. Warren sold 1,867 shares of TriNet Group stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $103.74, for a total transaction of $193,682.58. Following the completion of the transaction, the senior vice president now directly owns 32,661 shares in the company, valued at approximately $3,388,252.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total value of $37,882.50. Following the transaction, the director now directly owns 36,341 shares in the company, valued at $3,671,167.82. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

Institutional Trading of TriNet Group

A number of hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its position in TriNet Group by 60.9% during the third quarter. UBS Group AG now owns 37,318 shares of the business services provider’s stock worth $4,347,000 after acquiring an additional 14,123 shares during the last quarter. Group One Trading L.P. bought a new stake in TriNet Group in the 3rd quarter valued at $90,000. Rhumbline Advisers boosted its stake in TriNet Group by 5.4% in the 3rd quarter. Rhumbline Advisers now owns 57,929 shares of the business services provider’s stock valued at $6,748,000 after purchasing an additional 2,954 shares during the period. Paralel Advisors LLC grew its holdings in TriNet Group by 1.1% in the 3rd quarter. Paralel Advisors LLC now owns 23,724 shares of the business services provider’s stock valued at $2,763,000 after buying an additional 266 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of TriNet Group by 31.8% in the third quarter. PNC Financial Services Group Inc. now owns 730 shares of the business services provider’s stock valued at $85,000 after acquiring an additional 176 shares in the last quarter. Institutional investors and hedge funds 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.