TriNet Group (NYSE:TNET) Price Target Raised to $49.00 at TD Cowen

Key Points

• TD Cowen raised TriNet Group’s price target from $46 to $49 while keeping a hold rating, implying the stock is roughly in line with its current price.
• TriNet shares rose 3.8% to $49.06, even as analyst sentiment remains mixed; the consensus rating is Hold with an average price target of $55.80.
• The company recently posted strong quarterly results, beating EPS and revenue estimates, though revenue still declined 5.1% year over year.

TriNet Group (NYSE:TNET - Get Free Report) had its price objective increased by equities researchers at TD Cowen from $46.00 to $49.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the business services provider's stock. TD Cowen's target price would suggest a potential downside of 0.12% from the company's current price.

A number of other brokerages have also recently commented on TNET. Weiss Ratings upgraded shares of TriNet Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their target price on shares of TriNet Group from $43.00 to $45.00 and gave the company an "underweight" rating in a report on Friday, May 1st. UBS Group cut their target price on shares of TriNet Group from $62.00 to $48.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Finally, Zacks Research upgraded TriNet Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $55.80.

TriNet Group Stock Up 3.8%

Shares of NYSE:TNET traded up $1.81 during midday trading on Friday, reaching $49.06. The company had a trading volume of 92,347 shares, compared to its average volume of 483,517. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 10.80. The business's 50 day moving average price is $43.54 and its 200 day moving average price is $47.00. The stock has a market cap of $2.25 billion, a PE ratio of 14.64 and a beta of 1.01. TriNet Group has a 1-year low of $33.60 and a 1-year high of $76.09.

TriNet Group (NYSE:TNET - Get Free Report) last released its earnings results on Thursday, April 30th. The business services provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.64. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.08 billion. TriNet Group had a return on equity of 219.54% and a net margin of 3.22%.TriNet Group's revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.99 earnings per share. TriNet Group has set its FY 2026 guidance at 3.700-4.700 EPS. Research analysts forecast that TriNet Group will post 3.55 EPS for the current fiscal year.

Insider Transactions at TriNet Group

In other TriNet Group news, SVP Sidney A. Majalya sold 775 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $37.02, for a total value of $28,690.50. Following the transaction, the senior vice president directly owned 55,750 shares of the company's stock, valued at $2,063,865. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anthony Shea Treadway sold 933 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $43.46, for a total transaction of $40,548.18. Following the sale, the senior vice president directly owned 67,678 shares of the company's stock, valued at approximately $2,941,285.88. This trade represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 40.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Boston Partners bought a new stake in TriNet Group during the third quarter worth $97,712,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of TriNet Group by 5,911,158.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 709,351 shares of the business services provider's stock worth $41,944,000 after buying an additional 709,339 shares in the last quarter. Norges Bank bought a new stake in shares of TriNet Group during the 4th quarter worth $28,266,000. Millennium Management LLC boosted its stake in TriNet Group by 1,047.5% in the fourth quarter. Millennium Management LLC now owns 468,030 shares of the business services provider's stock valued at $27,675,000 after buying an additional 427,242 shares in the last quarter. Finally, Man Group plc boosted its stake in TriNet Group by 286.6% in the third quarter. Man Group plc now owns 468,897 shares of the business services provider's stock valued at $31,365,000 after buying an additional 347,622 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

About TriNet Group

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers' compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.

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