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

TriNet Group, Inc. (NYSE:TNET)’s share 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 changing hands.

Other equities analysts have also issued reports about the company. TD Cowen increased their price objective on TriNet Group from $129.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Stifel Nicolaus increased their price objective on TriNet Group from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, StockNews.com upgraded TriNet Group from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.50.

Insider Buying and Selling

In other news, EVP Samantha Wellington sold 14,271 shares of TriNet Group stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total value of $1,782,162.48. Following the sale, the executive vice president now directly owns 48,562 shares in the company, valued at approximately $6,064,422.56. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Samantha Wellington sold 14,271 shares of TriNet Group stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total value of $1,782,162.48. Following the sale, the executive vice president now directly owns 48,562 shares in the company, valued at approximately $6,064,422.56. The sale was disclosed in a filing with the SEC, which is available through this link. 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 value of $293,521.95. Following the completion of the transaction, the senior vice president now 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. Insiders have sold a total of 31,052 shares of company stock worth $3,837,142 in the last ninety days. 37.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Oliver Luxxe Assets LLC raised its stake in 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 buying an additional 83 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in TriNet Group by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,999 shares of the business services provider’s stock valued at $951,000 after buying an additional 91 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in TriNet Group by 12.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 880 shares of the business services provider’s stock valued at $105,000 after buying an additional 100 shares during the last quarter. Avion Wealth raised its stake in TriNet Group by 22.9% during the fourth quarter. Avion Wealth now owns 569 shares of the business services provider’s stock valued at $68,000 after buying an additional 106 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in TriNet Group by 15.7% during the fourth quarter. Blue Trust Inc. now owns 798 shares of the business services provider’s stock valued at $93,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Stock Down 16.6 %

The stock has a 50 day simple moving average of $128.43 and a 200-day simple moving average of $119.48. The firm has a market cap of $5.35 billion, a PE ratio of 16.46 and a beta of 1.09. The company has a debt-to-equity ratio of 12.62, a current ratio of 1.05 and a quick ratio of 1.05.

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

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group’s dividend payout ratio is currently 15.41%.

TriNet Group Company Profile

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.