TriNet Group (NYSE:TNET) Price Target Lowered to $75.00 at JPMorgan Chase & Co.

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 - Get Free Report) had its price target cut by stock analysts at JPMorgan Chase & Co. from $76.00 to $75.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "underweight" rating on the business services provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 5.52% from the stock's previous close.

TriNet Group Stock Up 3.3%

Shares of NYSE TNET traded up $2.25 during trading hours on Monday, hitting $71.08. The stock had a trading volume of 213,539 shares, compared to its average volume of 438,044. The company has a market capitalization of $3.44 billion, a P/E ratio of 24.42 and a beta of 0.84. The firm's 50-day moving average price is $75.44 and its two-hundred day moving average price is $79.08. TriNet Group has a 52 week low of $63.23 and a 52 week high of $110.94. The company has a debt-to-equity ratio of 14.43, a quick ratio of 1.08 and a current ratio of 1.08.

TriNet Group (NYSE:TNET - Get Free Report) last announced its earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.12. TriNet Group had a return on equity of 220.32% and a net margin of 2.85%. The firm had revenue of $282.90 million during the quarter, compared to analysts' expectations of $278.93 million. During the same quarter in the prior year, the business earned $1.53 earnings per share. Analysts anticipate that TriNet Group will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,437 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $82.04, for a total value of $117,891.48. Following the transaction, the chief technology officer owned 32,932 shares of the company's stock, valued at approximately $2,701,741.28. This represents a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Sidney A. Majalya sold 500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total value of $41,570.00. Following the sale, the senior vice president directly owned 23,033 shares in the company, valued at approximately $1,914,963.62. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,120 shares of company stock valued at $175,291 over the last quarter. Corporate insiders own 37.10% of the company's stock.

Institutional Trading of TriNet Group

A number of institutional investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. raised its position in TriNet Group by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,344 shares of the business services provider's stock valued at $304,000 after purchasing an additional 149 shares during the last quarter. Xponance Inc. increased its stake in shares of TriNet Group by 6.4% in the first quarter. Xponance Inc. now owns 2,613 shares of the business services provider's stock valued at $207,000 after buying an additional 157 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of TriNet Group by 3.0% in the second quarter. Verdence Capital Advisors LLC now owns 6,481 shares of the business services provider's stock valued at $474,000 after buying an additional 188 shares during the period. Farther Finance Advisors LLC increased its stake in shares of TriNet Group by 7.0% in the second quarter. Farther Finance Advisors LLC now owns 4,456 shares of the business services provider's stock valued at $326,000 after buying an additional 291 shares during the period. Finally, US Bancorp DE increased its stake in shares of TriNet Group by 4.6% in the first quarter. US Bancorp DE now owns 7,534 shares of the business services provider's stock valued at $597,000 after buying an additional 332 shares during the period. 96.81% of the stock is currently owned by institutional investors.

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.

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