TriNet Group (NYSE:TNET) Receives New Coverage from Analysts at Cowen

Cowen began coverage on shares of TriNet Group (NYSE:TNETGet Rating) in a research note released on Thursday, MarketBeat Ratings reports. The firm issued a market perform rating and a $83.00 price target on the business services provider’s stock.

A number of other equities analysts have also recently issued reports on TNET. Cowen assumed coverage on TriNet Group in a report on Thursday. They issued a market perform rating and a $83.00 target price on the stock. JPMorgan Chase & Co. cut TriNet Group from a neutral rating to an underweight rating and lifted their target price for the stock from $89.00 to $96.00 in a report on Tuesday, August 16th. Finally, StockNews.com cut TriNet Group from a strong-buy rating to a buy rating in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, TriNet Group currently has an average rating of Hold and a consensus price target of $88.00.

TriNet Group Stock Down 1.2 %

Shares of TNET stock opened at $81.46 on Thursday. TriNet Group has a 1 year low of $69.16 and a 1 year high of $109.40. The stock has a market cap of $5.06 billion, a PE ratio of 14.17 and a beta of 1.19. The business’s fifty day moving average is $83.13 and its 200-day moving average is $84.75. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.24 and a current ratio of 1.24.

TriNet Group (NYSE:TNETGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.54. TriNet Group had a return on equity of 49.91% and a net margin of 7.86%. The company had revenue of $348.00 million for the quarter, compared to analysts’ expectations of $299.68 million. Equities analysts expect that TriNet Group will post 5.31 earnings per share for the current fiscal year.

Insider Activity

In other news, Director H Raymond Bingham sold 415 shares of TriNet Group stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $74.40, for a total transaction of $30,876.00. Following the transaction, the director now owns 85,419 shares in the company, valued at $6,355,173.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director H Raymond Bingham sold 415 shares of TriNet Group stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $74.40, for a total transaction of $30,876.00. Following the transaction, the director now owns 85,419 shares in the company, valued at $6,355,173.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Burton M. Goldfield sold 6,250 shares of TriNet Group stock in a transaction on Friday, July 29th. The shares were sold at an average price of $82.10, for a total value of $513,125.00. Following the transaction, the chief executive officer now owns 225,828 shares in the company, valued at approximately $18,540,478.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,368 shares of company stock worth $1,666,356. 40.60% of the stock is owned by corporate insiders.

Institutional Trading of TriNet Group

A number of institutional investors have recently bought and sold shares of TNET. Wellington Management Group LLP boosted its position in TriNet Group by 11.4% during the first quarter. Wellington Management Group LLP now owns 4,190,526 shares of the business services provider’s stock valued at $412,181,000 after purchasing an additional 430,430 shares during the last quarter. Millennium Management LLC boosted its position in TriNet Group by 1,442.2% during the second quarter. Millennium Management LLC now owns 374,732 shares of the business services provider’s stock valued at $29,087,000 after purchasing an additional 402,651 shares during the last quarter. Hawk Ridge Capital Management LP lifted its position in shares of TriNet Group by 372.0% in the first quarter. Hawk Ridge Capital Management LP now owns 431,005 shares of the business services provider’s stock worth $42,394,000 after buying an additional 339,692 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of TriNet Group in the second quarter worth about $16,285,000. Finally, Marshall Wace LLP acquired a new stake in shares of TriNet Group in the fourth quarter worth about $18,181,000. Institutional investors and hedge funds own 92.09% of the company’s stock.

About TriNet Group

(Get Rating)

TriNet Group, Inc provides human resources (HR) solutions, payroll services, employee benefits, and employment risk mitigation services for small and midsize 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.

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