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

Shares of TriNet Group, Inc. (NYSE:TNET) gapped down before the market opened 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.

A number of other brokerages have also issued reports on TNET. TD Cowen boosted their target price on shares of TriNet Group from $129.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. StockNews.com upgraded shares of TriNet Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Stifel Nicolaus lifted their price target on shares of TriNet Group from $117.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.50.

Insider Activity

In other news, SVP Alexander G. Warren sold 2,385 shares of the business’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 sale, the senior vice president now owns 18,365 shares in the company, valued at approximately $2,260,180.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Alexander G. Warren sold 2,385 shares of the business’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 sale, the senior vice president now owns 18,365 shares in the company, valued at approximately $2,260,180.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wayne B. Lowell sold 10,000 shares of TriNet Group stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total value of $1,222,200.00. Following the completion of the transaction, the director now directly owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,052 shares of company stock worth $3,837,142. Corporate insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Principal Securities Inc. bought a new stake in TriNet Group during the 4th quarter worth about $26,000. Avion Wealth raised its holdings in TriNet Group by 30.8% during the 3rd 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. raised its holdings 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 purchasing an additional 176 shares during the last quarter. Group One Trading L.P. bought a new stake in TriNet Group during the 3rd quarter worth about $90,000. Finally, Blue Trust Inc. raised its holdings in TriNet Group by 15.7% during the 4th 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. 96.81% of the stock is owned by institutional investors.

TriNet Group Price Performance

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 12.62. The stock has a market capitalization of $5.35 billion, a P/E ratio of 16.46 and a beta of 1.09. The company has a fifty day simple moving average of $128.43 and a two-hundred day simple moving average of $119.48.

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

TriNet Group Announces Dividend

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

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.