TriNet Group (NYSE:TNET) PT Lowered to $140.00

TriNet Group (NYSE:TNET - Get Free Report) had its target price cut by investment analysts at Needham & Company LLC from $150.00 to $140.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. Needham & Company LLC's target price indicates a potential upside of 32.73% from the stock's previous close.

A number of other research firms have also issued reports on TNET. StockNews.com raised TriNet Group from a "hold" rating to a "buy" rating in a report on Monday, February 5th. Stifel Nicolaus upped their price objective on TriNet Group from $117.00 to $121.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Finally, TD Cowen upped their price objective on TriNet Group from $129.00 to $140.00 and gave the stock an "outperform" rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, TriNet Group currently has an average rating of "Moderate Buy" and a consensus target price of $117.50.

TriNet Group Stock Down 16.8 %

TNET stock traded down $21.30 during trading on Friday, hitting $105.48. 774,169 shares of the company's stock were exchanged, compared to its average volume of 229,489. The business has a 50-day moving average price of $127.99 and a two-hundred day moving average price of $119.38. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 16.25 and a beta of 1.09. TriNet Group has a 52-week low of $79.00 and a 52-week high of $134.67. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 12.62.

TriNet Group (NYSE:TNET - Get Free Report) last posted its 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. The firm had revenue of $326.00 million during the quarter, compared to analysts' expectations of $300.36 million. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. As a group, equities research analysts expect that TriNet Group will post 5.79 EPS for the current year.

Insider Activity

In other news, SVP Alexander G. Warren sold 2,385 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total value of $293,521.95. Following the sale, the senior vice president now directly owns 18,365 shares in the company, valued at $2,260,180.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other TriNet Group news, 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 value of $539,257.32. Following the sale, the chief financial officer now directly owns 65,999 shares of the company's stock, valued at approximately $8,096,097.33. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Alexander G. Warren sold 2,385 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total value of $293,521.95. Following the completion of the sale, the senior vice president now directly owns 18,365 shares in the company, valued at $2,260,180.55. The disclosure for this sale can be found here. Insiders have sold 31,052 shares of company stock worth $3,837,142 over the last three months. 37.10% of the stock is currently owned by corporate insiders.

Institutional Trading of TriNet Group

A number of hedge funds have recently added to or reduced their stakes in TNET. Massachusetts Financial Services Co. MA raised its holdings in shares of TriNet Group by 84.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 807,212 shares of the business services provider's stock worth $94,024,000 after purchasing an additional 369,144 shares during the period. Norges Bank purchased a new position in shares of TriNet Group in the 4th quarter worth about $19,650,000. Wedge Capital Management L L P NC raised its holdings in shares of TriNet Group by 253.6% in the 4th quarter. Wedge Capital Management L L P NC now owns 144,083 shares of the business services provider's stock worth $17,136,000 after purchasing an additional 103,330 shares during the period. Boston Partners acquired a new position in shares of TriNet Group in the 3rd quarter worth approximately $11,186,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in shares of TriNet Group in the 4th quarter worth approximately $7,777,000. 96.81% of the stock is owned by institutional investors and hedge funds.

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.