Needham & Company LLC Lowers TriNet Group (NYSE:TNET) Price Target to $140.00

TriNet Group (NYSE:TNET) had its price objective lowered by investment analysts at Needham & Company LLC from $150.00 to $140.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 31.02% from the company’s previous close.

A number of other research firms have also recently issued reports on TNET. Stifel Nicolaus upped their price target on shares of TriNet Group from $117.00 to $121.00 and gave the company a “buy” rating in a report on Friday, February 16th. StockNews.com upgraded shares of TriNet Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, TD Cowen upped their price target on shares of TriNet Group from $129.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, TriNet Group currently has an average rating of “Moderate Buy” and an average target price of $117.50.

TriNet Group Price Performance

TNET stock traded down $19.93 during midday trading on Friday, hitting $106.85. 585,432 shares of the stock were exchanged, compared to its average volume of 226,709. The stock’s 50-day moving average price is $128.43 and its 200-day moving average price is $119.48. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 16.46 and a beta of 1.09. TriNet Group has a fifty-two week low of $79.00 and a fifty-two week high of $134.67. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.46. The company had revenue of $326.00 million for the quarter, compared to analysts’ expectations of $300.36 million. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. Research analysts predict that TriNet Group will post 5.79 earnings per share for the current year.

Insider Transactions at TriNet Group

In other news, EVP Samantha Wellington sold 14,271 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the sale, the executive vice president now owns 48,562 shares of the company’s stock, valued at $6,064,422.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Samantha Wellington sold 14,271 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total value of $1,782,162.48. Following the completion of the sale, the executive vice president now owns 48,562 shares of the company’s stock, valued at $6,064,422.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Alexander G. Warren sold 2,385 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total transaction of $293,521.95. Following the completion of the sale, the senior vice president now directly owns 18,365 shares of the company’s stock, valued at approximately $2,260,180.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,052 shares of company stock valued at $3,837,142. Corporate insiders own 37.10% of the company’s stock.

Institutional Trading of TriNet Group

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in TriNet Group in the 3rd quarter valued at $1,983,000. Handelsbanken Fonder AB increased its stake in shares of TriNet Group by 45.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 10,237 shares of the business services provider’s stock worth $1,192,000 after purchasing an additional 3,200 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of TriNet Group during the 3rd quarter worth about $291,000. Linden Thomas Advisory Services LLC increased its stake in shares of TriNet Group by 7.3% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 9,004 shares of the business services provider’s stock worth $1,049,000 after purchasing an additional 613 shares during the last quarter. Finally, Avion Wealth increased its stake in shares of TriNet Group by 30.8% during the 3rd quarter. Avion Wealth now owns 463 shares of the business services provider’s stock worth $53,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds 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.