TriNet Group (NYSE:TNET) Given New $140.00 Price Target at Needham & Company LLC

TriNet Group (NYSE:TNET) had its price target trimmed by Needham & Company LLC from $150.00 to $140.00 in a research note published on Friday, Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

TNET has been the subject of a number of other research reports. Stifel Nicolaus increased 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. TD Cowen increased 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. Finally, StockNews.com upgraded shares of TriNet Group from a hold rating to a buy rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $117.50.

TriNet Group Stock Down 16.8 %

Shares of TriNet Group stock opened at $105.48 on Friday. The company has a market cap of $5.33 billion, a P/E ratio of 16.25 and a beta of 1.09. 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 has a one year low of $79.00 and a one year high of $134.67. The firm has a fifty day moving average of $127.99 and a two-hundred day moving average of $119.38.

TriNet Group (NYSE:TNET) last announced 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 during the quarter, compared to the consensus estimate of $300.36 million. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. On average, analysts forecast that TriNet Group will post 5.79 earnings per share for the current year.

TriNet Group Announces Dividend

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

Insider Buying and Selling at TriNet Group

In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 48,562 shares in the company, valued at approximately $6,064,422.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 48,562 shares of the company’s stock, valued at approximately $6,064,422.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kelly L. Tuminelli sold 4,396 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $122.67, for a total transaction of $539,257.32. Following the sale, the chief financial officer now directly owns 65,999 shares in the company, valued at $8,096,097.33. The disclosure for this sale can be found here. In the last three months, insiders sold 31,052 shares of company stock worth $3,837,142. 37.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TriNet Group

Hedge funds have recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in shares of TriNet Group during the 4th quarter worth about $26,000. Avion Wealth boosted its position in shares of TriNet Group by 30.8% in the third quarter. Avion Wealth now owns 463 shares of the business services provider’s stock worth $53,000 after acquiring an additional 109 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of TriNet Group by 31.8% in the third quarter. PNC Financial Services Group Inc. now owns 730 shares of the business services provider’s stock worth $85,000 after acquiring an additional 176 shares during the last quarter. Group One Trading L.P. acquired a new stake in shares of TriNet Group in the third quarter worth approximately $90,000. Finally, Blue Trust Inc. boosted its position in shares of TriNet Group by 15.7% in the fourth quarter. Blue Trust Inc. now owns 798 shares of the business services provider’s stock worth $93,000 after acquiring an additional 108 shares during the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

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.