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

TriNet Group, Inc. (NYSE:TNET)’s stock price gapped down prior to trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $107.00 to $103.00. The stock had previously closed at $96.89, but opened at $94.81. JPMorgan Chase & Co. currently has an underweight rating on the stock. TriNet Group shares last traded at $94.94, with a volume of 24,722 shares changing hands.

Several other equities analysts have also issued reports on the company. StockNews.com lowered TriNet Group from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. TD Cowen lowered their target price on TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of TriNet Group in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, TriNet Group currently has an average rating of “Hold” and an average target price of $118.40.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the sale, the director now directly owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Securities Inc. acquired a new stake in shares of TriNet Group during the fourth quarter worth $26,000. Rothschild Investment LLC bought a new position in shares of TriNet Group in the 2nd quarter worth about $45,000. Blue Trust Inc. lifted its stake in shares of TriNet Group by 24.9% in the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 104 shares during the period. LRI Investments LLC bought a new stake in shares of TriNet Group during the 1st quarter valued at about $81,000. Finally, Avion Wealth grew its stake in TriNet Group by 19.2% during the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after purchasing an additional 129 shares during the period. 96.81% of the stock is owned by institutional investors and hedge funds.

TriNet Group Stock Performance

The firm has a market capitalization of $4.79 billion, a P/E ratio of 15.82 and a beta of 1.19. The stock has a fifty day simple moving average of $101.08 and a two-hundred day simple moving average of $112.19. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04.

TriNet Group (NYSE:TNET) last released its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.29. The company had revenue of $310.00 million for the quarter, compared to the consensus estimate of $301.76 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. On average, research analysts predict that TriNet Group, Inc. will post 5.05 EPS for the current year.

TriNet Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. TriNet Group’s dividend payout ratio is 16.39%.

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.