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

TriNet Group, Inc. (NYSE:TNET)’s stock price 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 trading hands.

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

Insiders Place Their Bets

In other news, Director Wayne B. Lowell sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $122.22, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TriNet Group news, Director Wayne B. Lowell sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $122.22, for a total value of $1,222,200.00. Following the sale, the director now directly owns 84,766 shares in the company, valued at $10,360,100.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samantha Wellington sold 14,271 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the transaction, the executive vice president now owns 48,562 shares of the company’s stock, valued at approximately $6,064,422.56. The disclosure for this sale can be found here. Insiders have sold 31,052 shares of company stock valued at $3,837,142 over the last quarter. Insiders own 37.10% of the company’s stock.

Institutional Trading of TriNet Group

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in TriNet Group by 18.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 23,462 shares of the business services provider’s stock valued at $3,109,000 after acquiring an additional 3,646 shares during the period. Oliver Luxxe Assets LLC raised its stake in shares of TriNet Group by 1.4% during the first quarter. Oliver Luxxe Assets LLC now owns 5,860 shares of the business services provider’s stock valued at $776,000 after purchasing an additional 83 shares in the last quarter. Ausbil Investment Management Ltd lifted its holdings in TriNet Group by 11.3% in the first quarter. Ausbil Investment Management Ltd now owns 5,946 shares of the business services provider’s stock worth $787,000 after purchasing an additional 602 shares during the period. Kapitalo Investimentos Ltda bought a new position in TriNet Group in the 4th quarter valued at about $338,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in TriNet Group during the 4th quarter valued at about $309,000. 96.81% of the stock is currently owned by institutional investors.

TriNet Group Price Performance

The business’s 50-day simple moving average is $127.99 and its 200 day simple moving average is $119.38. The company has a market capitalization of $5.33 billion, a P/E ratio of 16.25 and a beta of 1.09. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 12.62.

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

TriNet Group Dividend Announcement

The firm also recently disclosed 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 was Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. TriNet Group’s dividend payout ratio is currently 15.41%.

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.