TriNet Group, Inc. (NYSE:TNET – Get Free Report)’s stock price gapped down before the market opened on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $107.00 to $103.00. The stock had previously closed at $96.89, but opened at $94.81. JPMorgan Chase & Co. currently has an underweight rating on the stock. TriNet Group shares last traded at $94.94, with a volume of 24,722 shares.
Several other analysts also recently commented on TNET. TD Cowen reduced their price target on shares of TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, June 24th. StockNews.com downgraded shares of TriNet Group from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of TriNet Group in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $118.40.
Insiders Place Their Bets
In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the completion of the transaction, the director now owns 37,966 shares in the company, valued at approximately $4,043,379. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 37.10% of the stock is owned by insiders.
Hedge Funds Weigh In On TriNet Group
A number of large investors have recently bought and sold shares of the company. Oliver Luxxe Assets LLC raised its position in TriNet Group by 1.4% during the 1st quarter. Oliver Luxxe Assets LLC now owns 5,860 shares of the business services provider’s stock worth $776,000 after buying an additional 83 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of TriNet Group by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,999 shares of the business services provider’s stock worth $951,000 after purchasing an additional 91 shares during the period. Jennison Associates LLC grew its stake in shares of TriNet Group by 1.8% during the 1st quarter. Jennison Associates LLC now owns 5,663 shares of the business services provider’s stock worth $750,000 after purchasing an additional 99 shares during the period. Blue Trust Inc. grew its stake in shares of TriNet Group by 24.9% during the 2nd 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. Finally, Avion Wealth grew its stake in shares of TriNet Group by 19.2% during the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.
TriNet Group Stock Performance
The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 15.69 and a beta of 1.19. The stock’s 50 day moving average price is $101.24 and its two-hundred day moving average price is $112.30.
TriNet Group (NYSE:TNET – Get Free Report) last posted its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.29. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. The business had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $301.76 million. On average, analysts forecast that TriNet Group, Inc. will post 5.05 EPS for the current year.
TriNet Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. TriNet Group’s payout ratio is 16.39%.
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.