TriNet Group (NYSE:TNET) Price Target Raised to $76.00 at JPMorgan Chase & Co.

TriNet Group (NYSE:TNET - Get Free Report) had its price target increased by research analysts at JPMorgan Chase & Co. from $75.00 to $76.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the business services provider's stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 5.44% from the company's current price.

TNET has been the topic of a number of other research reports. Needham & Company LLC restated a "hold" rating on shares of TriNet Group in a research report on Thursday, March 13th. TD Cowen downgraded TriNet Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $104.00 to $74.00 in a research report on Tuesday, February 18th.

TriNet Group Stock Performance

Shares of NYSE:TNET traded up $1.60 during trading on Monday, reaching $80.37. 374,048 shares of the stock were exchanged, compared to its average volume of 382,301. TriNet Group has a 12 month low of $65.43 and a 12 month high of $116.26. The stock has a 50-day moving average price of $76.64 and a 200-day moving average price of $85.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The firm has a market cap of $3.89 billion, a PE ratio of 23.50 and a beta of 1.06.

TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The business services provider reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.32. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $319.36 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. During the same period in the prior year, the firm posted $2.18 EPS. Research analysts expect that TriNet Group will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $41,616.00. Following the sale, the director now owns 36,991 shares in the company, valued at $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $94,607.04. Following the transaction, the chief technology officer now owns 19,867 shares of the company's stock, valued at $1,377,975.12. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 38.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriNet Group

Several large investors have recently modified their holdings of TNET. Wealthfront Advisers LLC bought a new position in TriNet Group during the 4th quarter worth $456,581,000. Vanguard Group Inc. boosted its stake in shares of TriNet Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider's stock valued at $271,585,000 after purchasing an additional 36,216 shares during the last quarter. Capital Research Global Investors increased its position in shares of TriNet Group by 98.2% during the fourth quarter. Capital Research Global Investors now owns 2,822,839 shares of the business services provider's stock worth $256,229,000 after buying an additional 1,398,573 shares during the period. Massachusetts Financial Services Co. MA raised its stake in TriNet Group by 11.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,123,201 shares of the business services provider's stock worth $168,242,000 after buying an additional 225,196 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in TriNet Group by 23.1% during the fourth quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider's stock worth $147,674,000 after buying an additional 305,165 shares during the last quarter. Institutional investors own 96.81% of the company's stock.

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.