JPMorgan Chase & Co. Lowers TriNet Group (NYSE:TNET) Price Target to $65.00

TriNet Group (NYSE:TNET) had its price target decreased by research analysts at JPMorgan Chase & Co. from $75.00 to $65.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.64% from the company’s previous close.

A number of other equities analysts have also weighed in on TNET. UBS Group lowered their target price on TriNet Group from $69.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TriNet Group in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $67.33.

TriNet Group Trading Down 2.3%

NYSE:TNET opened at $59.83 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 8.36. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 22.08 and a beta of 0.79. The firm has a fifty day simple moving average of $66.20 and a two-hundred day simple moving average of $71.63. TriNet Group has a 12 month low of $57.77 and a 12 month high of $98.51.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Wednesday, October 29th. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.39. TriNet Group had a net margin of 2.64% and a return on equity of 232.60%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $261.92 million. During the same period last year, the company posted $1.17 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Analysts expect that TriNet Group will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ralph A. Clark sold 3,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $66.42, for a total value of $199,260.00. Following the completion of the sale, the director owned 9,390 shares in the company, valued at $623,683.80. This represents a 24.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.80, for a total transaction of $98,865.60. Following the completion of the sale, the chief technology officer owned 30,424 shares of the company’s stock, valued at approximately $2,093,171.20. This represents a 4.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,170 shares of company stock valued at $611,708 over the last 90 days. 38.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TriNet Group

Several institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its position in TriNet Group by 19.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,353,004 shares of the business services provider’s stock valued at $157,392,000 after buying an additional 387,940 shares during the period. Wellington Management Group LLP increased its stake in shares of TriNet Group by 24.3% during the 1st quarter. Wellington Management Group LLP now owns 2,021,749 shares of the business services provider’s stock worth $160,203,000 after purchasing an additional 394,847 shares during the last quarter. American Century Companies Inc. increased its stake in shares of TriNet Group by 35.2% during the 2nd quarter. American Century Companies Inc. now owns 1,160,037 shares of the business services provider’s stock worth $84,845,000 after purchasing an additional 301,832 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of TriNet Group by 10.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 715,840 shares of the business services provider’s stock worth $47,883,000 after purchasing an additional 67,210 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of TriNet Group by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 519,774 shares of the business services provider’s stock worth $41,187,000 after purchasing an additional 25,938 shares during the last quarter. 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.