TriNet Group (NYSE:TNET) Earns Hold Rating from Needham & Company LLC

TriNet Group (NYSE:TNET)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports.

Separately, TD Cowen lowered shares of TriNet Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $104.00 to $74.00 in a research note on Tuesday, February 18th.

TriNet Group Stock Up 2.2 %

Shares of TriNet Group stock opened at $74.89 on Thursday. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average of $83.85 and a 200 day moving average of $90.32. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 21.90 and a beta of 1.26. TriNet Group has a 1 year low of $65.43 and a 1 year high of $134.67.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $252.00 million during the quarter, compared to analyst estimates of $225.72 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. As a group, sell-side analysts anticipate that TriNet Group will post 3.04 earnings per share for the current fiscal year.

Insider Transactions at TriNet Group

In other news, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $41,616.00. Following the completion of the sale, the director now directly owns 36,991 shares in the company, valued at $2,565,695.76. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $94,607.04. Following the completion of the transaction, the chief technology officer now directly owns 19,867 shares in the company, valued at approximately $1,377,975.12. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,748 shares of company stock worth $833,436 over the last three months. 37.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TriNet Group

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of TriNet Group by 11.4% in the third quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock worth $37,366,000 after buying an additional 39,351 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of TriNet Group by 32.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock worth $156,018,000 after buying an additional 391,720 shares during the last quarter. Simcoe Capital Management LLC purchased a new position in shares of TriNet Group in the third quarter worth approximately $16,966,000. Tidal Investments LLC boosted its holdings in shares of TriNet Group by 5.4% in the third quarter. Tidal Investments LLC now owns 5,121 shares of the business services provider’s stock worth $495,000 after buying an additional 263 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of TriNet Group by 16.2% in the third quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock worth $128,169,000 after buying an additional 184,186 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

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.