TriNet Group’s (TNET) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of TriNet Group (NYSE:TNET) in a research report sent to investors on Monday morning, Benzinga reports. Needham & Company LLC currently has a $140.00 price objective on the business services provider’s stock.

Several other equities research analysts have also commented on TNET. TD Cowen cut their price target on shares of TriNet Group from $132.00 to $118.00 and set a buy rating on the stock in a research note on Monday, June 24th. StockNews.com downgraded TriNet Group from a buy rating to a hold rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, TriNet Group has an average rating of Hold and a consensus price target of $119.20.

TriNet Group Stock Down 2.2 %

TNET stock opened at $104.14 on Monday. The stock has a market cap of $5.17 billion, a P/E ratio of 17.07 and a beta of 1.19. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 6.88. TriNet Group has a twelve month low of $96.76 and a twelve month high of $134.67. The company’s 50 day moving average is $104.06 and its two-hundred day moving average is $114.29.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 1st were paid a dividend of $0.25 per share. The ex-dividend date was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. TriNet Group’s dividend payout ratio (DPR) is 16.39%.

Insider Transactions at TriNet Group

In related news, SVP Alexander G. Warren sold 1,867 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 32,661 shares of the company’s stock, valued at $3,388,252.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TriNet Group news, SVP Alexander G. Warren sold 1,867 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $103.74, for a total value of $193,682.58. Following the completion of the transaction, the senior vice president now directly owns 32,661 shares of the company’s stock, valued at $3,388,252.14. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Samantha Wellington 7,064 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Company insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On TriNet Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wedge Capital Management L L P NC raised its holdings in shares of TriNet Group by 253.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 144,083 shares of the business services provider’s stock worth $17,136,000 after acquiring an additional 103,330 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of TriNet Group by 160.2% during the 4th quarter. Victory Capital Management Inc. now owns 22,746 shares of the business services provider’s stock worth $2,705,000 after purchasing an additional 14,003 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of TriNet Group by 23.2% during the first quarter. BNP Paribas Financial Markets now owns 43,952 shares of the business services provider’s stock worth $5,823,000 after buying an additional 8,275 shares in the last quarter. Van ECK Associates Corp raised its position in shares of TriNet Group by 181.9% in the fourth quarter. Van ECK Associates Corp now owns 23,683 shares of the business services provider’s stock valued at $2,817,000 after buying an additional 15,282 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. purchased a new position in shares of TriNet Group during the fourth quarter valued at approximately $7,777,000. Hedge funds and other institutional investors 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.