TriNet Group (NYSE:TNET) Shares Gap Down on Disappointing Earnings

TriNet Group, Inc. (NYSE:TNET) shares gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $91.63, but opened at $81.65. TriNet Group shares last traded at $77.33, with a volume of 67,382 shares.

The business services provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.14). The firm had revenue of $288.00 million during the quarter, compared to analysts’ expectations of $297.94 million. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%.

TriNet Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date is Tuesday, October 1st. TriNet Group’s payout ratio is currently 16.89%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a report on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of TriNet Group in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $118.40.

Insider Activity at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value of $482,161.68. Following the transaction, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the 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 transaction, the director now owns 37,966 shares in the company, valued at approximately $4,043,379. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is owned by insiders.

Institutional Investors Weigh In On TriNet Group

A number of large investors have recently made changes to their positions in the company. Rothschild Investment LLC purchased a new position in shares of TriNet Group in the second quarter worth approximately $45,000. Blue Trust Inc. boosted its stake in shares of TriNet Group by 24.9% during the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after acquiring an additional 104 shares during the last quarter. Avion Wealth grew its position in shares of TriNet Group by 19.2% during the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 129 shares during the period. LRI Investments LLC purchased a new stake in shares of TriNet Group in the 1st quarter worth $81,000. Finally, Headlands Technologies LLC purchased a new stake in shares of TriNet Group in the 2nd quarter worth $93,000. 96.81% of the stock is currently owned by institutional investors.

TriNet Group Trading Down 12.4 %

The company has a market capitalization of $3.99 billion, a P/E ratio of 13.57 and a beta of 1.17. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $96.79 and a 200 day moving average of $102.72.

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.