Truist Financial Forecasts Strong Price Appreciation for TriNet Group (NYSE:TNET) Stock

Key Points

• Truist Financial raised its price target on TriNet Group from $50 to $62 while keeping a Hold rating, implying about 4.9% upside from the current share price. The move comes amid a mixed but generally cautious analyst outlook.
• TriNet recently beat quarterly expectations, reporting EPS of $2.48 versus $1.84 expected and revenue of $1.23 billion versus $1.08 billion expected. However, revenue still declined 5.1% year over year.
• The stock has been volatile but remains well above recent averages, trading at $59.09 with a 52-week range of $33.60 to $72.84. Institutional ownership is high, with hedge funds and other investors holding 96.81% of shares.

TriNet Group (NYSE:TNET - Get Free Report) had its price target hoisted by equities researchers at Truist Financial from $50.00 to $62.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the business services provider's stock. Truist Financial's price objective suggests a potential upside of 4.92% from the stock's current price.

Several other analysts also recently issued reports on the stock. TD Cowen upped their price target on shares of TriNet Group from $46.00 to $49.00 and gave the company a "hold" rating in a report on Friday, June 26th. UBS Group dropped their price objective 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. Zacks Research downgraded TriNet Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 3rd. JPMorgan Chase & Co. upped their target price on TriNet Group from $43.00 to $45.00 and gave the company an "underweight" rating in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded TriNet Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, TriNet Group presently has an average rating of "Reduce" and a consensus target price of $55.80.

TriNet Group Price Performance

TriNet Group stock traded down $0.84 during trading hours on Wednesday, hitting $59.09. The stock had a trading volume of 101,308 shares, compared to its average volume of 465,352. TriNet Group has a 1-year low of $33.60 and a 1-year high of $72.84. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 17.64 and a beta of 0.99. The stock's fifty day moving average is $48.80 and its two-hundred day moving average is $46.63. The company has a debt-to-equity ratio of 10.80, a current ratio of 1.12 and a quick ratio of 1.12.

TriNet Group (NYSE:TNET - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $1.08 billion. TriNet Group had a return on equity of 219.54% and a net margin of 3.22%.The business's revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.99 EPS. TriNet Group has set its FY 2026 guidance at 3.700-4.700 EPS. As a group, analysts predict that TriNet Group will post 3.55 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Anthony Shea Treadway sold 933 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $43.46, for a total transaction of $40,548.18. Following the sale, the senior vice president owned 67,678 shares in the company, valued at approximately $2,941,285.88. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 40.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Mirador Capital Partners LP grew its position in shares of TriNet Group by 8.6% in the second quarter. Mirador Capital Partners LP now owns 28,321 shares of the business services provider's stock valued at $1,402,000 after purchasing an additional 2,234 shares during the period. GAMMA Investing LLC lifted its position in TriNet Group by 63.6% during the second quarter. GAMMA Investing LLC now owns 1,350 shares of the business services provider's stock worth $67,000 after buying an additional 525 shares during the period. Empowered Funds LLC boosted its stake in TriNet Group by 82.2% in the 1st quarter. Empowered Funds LLC now owns 15,421 shares of the business services provider's stock worth $557,000 after buying an additional 6,955 shares during the last quarter. Essential Partners LLC grew its holdings in TriNet Group by 427.4% in the 1st quarter. Essential Partners LLC now owns 944 shares of the business services provider's stock valued at $34,000 after buying an additional 765 shares during the period. Finally, Bank of America Corp DE grew its holdings in TriNet Group by 89.4% in the 1st quarter. Bank of America Corp DE now owns 314,528 shares of the business services provider's stock valued at $11,458,000 after buying an additional 148,451 shares during the period. Hedge funds and other institutional investors own 96.81% of the company's stock.

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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