TriNet Group (NYSE:TNET) Given New $104.00 Price Target at TD Cowen

TriNet Group (NYSE:TNET) had its price objective raised by TD Cowen from $92.00 to $104.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Several other equities research analysts have also recently weighed in on TNET. JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 price target on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC cut TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $117.00.

TriNet Group Price Performance

TNET opened at $94.24 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The stock has a market capitalization of $4.67 billion, a P/E ratio of 18.16 and a beta of 1.20. TriNet Group has a 12-month low of $74.32 and a 12-month high of $134.67. The stock has a 50-day moving average price of $93.60 and a 200-day moving average price of $98.98.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.06%. TriNet Group’s payout ratio is presently 19.27%.

Insider Transactions at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the transaction, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. This represents a 5.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total transaction of $32,336.25. Following the transaction, the director now owns 37,591 shares in the company, valued at $3,241,471.93. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TNET. Wedge Capital Management L L P NC lifted its position in shares of TriNet Group by 14.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 163,600 shares of the business services provider’s stock worth $16,360,000 after buying an additional 20,680 shares during the last quarter. Boston Partners boosted its holdings in TriNet Group by 20.8% in the first quarter. Boston Partners now owns 108,157 shares of the business services provider’s stock valued at $14,319,000 after acquiring an additional 18,586 shares during the last quarter. US Bancorp DE raised its stake in shares of TriNet Group by 9,893.1% in the 3rd quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock valued at $698,000 after acquiring an additional 7,123 shares during the period. Summit Global Investments purchased a new stake in shares of TriNet Group during the third quarter valued at approximately $605,000. Finally, Harbor Capital Advisors Inc. boosted its position in TriNet Group by 276.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,439 shares of the business services provider’s stock valued at $944,000 after buying an additional 6,933 shares during the last quarter. 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.