TriNet Group (NYSE:TNET) Price Target Raised to $62.00 at Truist Financial

TriNet Group (NYSE:TNET) had its price objective boosted by Truist Financial from $50.00 to $62.00 in a report issued on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the business services provider’s stock.

Several other research analysts have also commented on the company. Zacks Research lowered TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 3rd. Weiss Ratings raised TriNet Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on shares of TriNet Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Friday, May 1st. TD Cowen boosted their target price on shares of TriNet Group from $46.00 to $49.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, UBS Group dropped their target price on shares of TriNet Group from $62.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, TriNet Group currently has a consensus rating of “Reduce” and an average price target of $55.80.

TriNet Group Price Performance

TNET opened at $60.08 on Wednesday. The company has a market capitalization of $2.76 billion, a P/E ratio of 17.93 and a beta of 0.99. The company has a 50-day moving average of $49.21 and a 200-day moving average of $46.64. The company has a debt-to-equity ratio of 10.80, a quick ratio of 1.12 and a current ratio of 1.12. TriNet Group has a 1-year low of $33.60 and a 1-year high of $72.84.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.48 EPS for the quarter, topping the consensus estimate of $1.84 by $0.64. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.08 billion. TriNet Group had a net margin of 3.22% and a return on equity of 219.54%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.99 earnings per share. TriNet Group has set its FY 2026 guidance at 3.700-4.700 EPS. Equities analysts expect that TriNet Group will post 3.55 EPS for the current fiscal year.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, July 1st. TriNet Group’s dividend payout ratio is presently 34.63%.

Insider Transactions at TriNet Group

In related news, SVP Anthony Shea Treadway sold 933 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $43.46, for a total transaction of $40,548.18. Following the completion of the transaction, the senior vice president directly owned 67,678 shares in the company, valued at $2,941,285.88. This represents a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 40.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriNet Group

Several institutional investors have recently modified their holdings of TNET. Mitsubishi UFJ Trust & Banking Corp boosted its stake in TriNet Group by 640.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,818 shares of the business services provider’s stock valued at $1,881,000 after purchasing an additional 27,520 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in TriNet Group by 5,911,158.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 709,351 shares of the business services provider’s stock worth $41,944,000 after purchasing an additional 709,339 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of TriNet Group by 109.2% in the third quarter. JPMorgan Chase & Co. now owns 220,096 shares of the business services provider’s stock valued at $14,722,000 after purchasing an additional 114,892 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of TriNet Group by 77.8% in the first quarter. Y Intercept Hong Kong Ltd now owns 59,638 shares of the business services provider’s stock valued at $2,173,000 after purchasing an additional 26,099 shares during the period. Finally, Norges Bank acquired a new stake in shares of TriNet Group in the fourth quarter valued at approximately $28,266,000. Institutional investors own 96.81% of the company’s stock.

TriNet Group Company Profile

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers’ compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.