JPMorgan Chase & Co. Has Lowered Expectations for TriNet Group (NYSE:TNET) Stock Price

Key Points

• JPMorgan Chase & Co. has lowered its price target for TriNet Group from $76.00 to $75.00, maintaining an "underweight" rating on the stock.
• TriNet Group shares rose by 3.3% during Monday's trading, reaching $71.08, with a market capitalization of $3.44 billion.
• The company reported earnings of $1.15 EPS for the last quarter, exceeding analysts' expectations of $1.03.

TriNet Group (NYSE:TNET - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $76.00 to $75.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an underweight rating on the business services provider's stock.

TriNet Group Stock Down 1.8%

TNET traded down $1.26 during trading on Monday, hitting $67.82. 498,116 shares of the company's stock were exchanged, compared to its average volume of 446,263. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 8.36. The business's 50 day moving average is $74.53 and its two-hundred day moving average is $78.81. TriNet Group has a fifty-two week low of $63.23 and a fifty-two week high of $108.65. The stock has a market cap of $3.30 billion, a P/E ratio of 23.31 and a beta of 0.84.

TriNet Group (NYSE:TNET - Get Free Report) last posted its earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.12. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. The firm had revenue of $282.90 million during the quarter, compared to analyst estimates of $278.93 million. During the same quarter in the prior year, the business posted $1.53 EPS. As a group, equities analysts expect that TriNet Group will post 3.04 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were paid a $0.275 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $1.10 annualized dividend and a dividend yield of 1.6%. TriNet Group's dividend payout ratio is presently 37.80%.

Insider Buying and Selling at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,437 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total value of $117,891.48. Following the completion of the sale, the chief technology officer owned 32,932 shares in the company, valued at $2,701,741.28. This represents a 4.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Sidney A. Majalya sold 500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total transaction of $41,570.00. Following the completion of the sale, the senior vice president owned 23,033 shares of the company's stock, valued at approximately $1,914,963.62. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,120 shares of company stock valued at $175,291. Company insiders own 38.10% of the company's stock.

Hedge Funds Weigh In On TriNet Group

Institutional investors have recently added to or reduced their stakes in the stock. Hilltop National Bank bought a new position in TriNet Group during the second quarter worth about $43,000. CWM LLC boosted its position in TriNet Group by 140.5% during the second quarter. CWM LLC now owns 582 shares of the business services provider's stock worth $43,000 after purchasing an additional 340 shares during the period. LRI Investments LLC boosted its position in TriNet Group by 643.8% during the fourth quarter. LRI Investments LLC now owns 662 shares of the business services provider's stock worth $60,000 after purchasing an additional 573 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of TriNet Group by 58.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider's stock worth $182,000 after buying an additional 845 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of TriNet Group by 633.5% in the first quarter. AlphaQuest LLC now owns 2,472 shares of the business services provider's stock worth $196,000 after buying an additional 2,135 shares in the last quarter. Institutional investors own 96.81% of the company's stock.

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.