Needham & Company LLC Cuts TriNet Group (NYSE:TNET) Price Target to $140.00

TriNet Group (NYSE:TNET) had its target price lowered by Needham & Company LLC from $150.00 to $140.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price target would indicate a potential upside of 31.02% from the company’s current price.

A number of other research firms have also weighed in on TNET. Stifel Nicolaus raised their target price on shares of TriNet Group from $117.00 to $121.00 and gave the company a “buy” rating in a report on Friday, February 16th. TD Cowen raised their target price on shares of TriNet Group from $129.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Finally, StockNews.com raised shares of TriNet Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.50.

TriNet Group Price Performance

NYSE:TNET traded down $19.93 during mid-day trading on Friday, hitting $106.85. 585,432 shares of the stock traded hands, compared to its average volume of 226,709. The business’s 50-day moving average price is $128.43 and its 200 day moving average price is $119.48. The company has a market cap of $5.40 billion, a PE ratio of 16.46 and a beta of 1.09. TriNet Group has a 12-month low of $79.00 and a 12-month high of $134.67. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 12.62.

TriNet Group (NYSE:TNET) last posted its earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.46. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. The business had revenue of $326.00 million for the quarter, compared to analysts’ expectations of $300.36 million. On average, analysts expect that TriNet Group will post 5.79 EPS for the current fiscal year.

Insider Activity at TriNet Group

In related news, SVP Alexander G. Warren sold 2,385 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total transaction of $293,521.95. Following the transaction, the senior vice president now owns 18,365 shares of the company’s stock, valued at approximately $2,260,180.55. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Samantha Wellington sold 14,271 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total value of $1,782,162.48. Following the sale, the executive vice president now directly owns 48,562 shares in the company, valued at approximately $6,064,422.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Alexander G. Warren sold 2,385 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total transaction of $293,521.95. Following the completion of the sale, the senior vice president now owns 18,365 shares in the company, 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. Insiders own 37.10% of the company’s stock.

Institutional Trading of TriNet Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. purchased a new position in shares of TriNet Group during the 4th quarter valued at approximately $26,000. Avion Wealth lifted its stake in TriNet Group by 30.8% during the third quarter. Avion Wealth now owns 463 shares of the business services provider’s stock worth $53,000 after purchasing an additional 109 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in TriNet Group by 31.8% during the third quarter. PNC Financial Services Group Inc. now owns 730 shares of the business services provider’s stock worth $85,000 after purchasing an additional 176 shares during the last quarter. Group One Trading L.P. bought a new position in TriNet Group during the third quarter worth $90,000. Finally, Blue Trust Inc. lifted its stake in TriNet Group by 15.7% during the fourth quarter. Blue Trust Inc. now owns 798 shares of the business services provider’s stock worth $93,000 after purchasing an additional 108 shares during the last quarter. 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.