TriNet Group (NYSE:TNET) Cut to “Hold” at TD Cowen

TriNet Group (NYSE:TNET) was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They presently have a $74.00 price objective on the business services provider’s stock, down from their previous price objective of $104.00. TD Cowen’s price objective suggests a potential upside of 2.07% from the company’s current price.

TNET has been the topic of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of TriNet Group in a report on Friday, February 14th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $103.00 price target on shares of TriNet Group in a research note on Tuesday, October 22nd.

TriNet Group Price Performance

TNET stock opened at $72.50 on Tuesday. The stock has a 50-day moving average price of $90.05 and a two-hundred day moving average price of $93.05. TriNet Group has a 1 year low of $70.79 and a 1 year high of $134.67. The stock has a market cap of $3.59 billion, a PE ratio of 21.20 and a beta of 1.21. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The company had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $225.72 million. Equities analysts forecast that TriNet Group will post 4.67 EPS for the current fiscal year.

Insider Activity

In other TriNet Group news, CTO Jeffery Jon Hayward sold 7,784 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $89.57, for a total transaction of $697,212.88. Following the sale, the chief technology officer now directly owns 21,769 shares of the company’s stock, valued at approximately $1,949,849.33. This represents a 26.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 11,942 shares of company stock valued at $1,083,506. 37.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning lifted its stake in TriNet Group by 25.3% in the 3rd quarter. Creative Planning now owns 4,456 shares of the business services provider’s stock valued at $432,000 after purchasing an additional 899 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in TriNet Group by 5.0% in the third quarter. GHP Investment Advisors Inc. now owns 45,543 shares of the business services provider’s stock valued at $4,416,000 after buying an additional 2,152 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of TriNet Group by 5.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 33,743 shares of the business services provider’s stock valued at $3,200,000 after buying an additional 1,700 shares during the last quarter. US Bancorp DE boosted its stake in shares of TriNet Group by 9,893.1% during the 3rd quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock worth $698,000 after acquiring an additional 7,123 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of TriNet Group by 7,191.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,375 shares of the business services provider’s stock worth $424,000 after acquiring an additional 4,315 shares during the last quarter. 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.