TriNet Group (NYSE:TNET) Rating Lowered to Hold at Needham & Company LLC

TriNet Group (NYSE:TNET) was downgraded by equities researchers at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Monday, Briefing.com reports.

Separately, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, TriNet Group presently has an average rating of “Hold” and an average price target of $118.40.

TriNet Group Stock Down 12.4 %

Shares of TNET opened at $80.31 on Monday. TriNet Group has a 52 week low of $74.32 and a 52 week high of $134.67. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.47 and a beta of 1.17. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $96.79 and a 200-day moving average of $102.72.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Friday, October 25th. The business services provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.14). TriNet Group had a net margin of 5.29% and a return on equity of 261.74%. The firm had revenue of $288.00 million during the quarter, compared to the consensus estimate of $297.94 million. As a group, sell-side analysts anticipate that TriNet Group will post 5.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the transaction, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total value of $39,937.50. Following the sale, the director now owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is owned by corporate insiders.

Institutional Trading of TriNet Group

A number of large investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its holdings in TriNet Group by 5.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 33,743 shares of the business services provider’s stock worth $3,200,000 after acquiring an additional 1,700 shares during the period. GHP Investment Advisors Inc. grew its holdings in TriNet Group by 5.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 45,543 shares of the business services provider’s stock worth $4,416,000 after acquiring an additional 2,152 shares during the period. Hunter Perkins Capital Management LLC acquired a new stake in shares of TriNet Group in the 3rd quarter valued at about $285,000. Creative Planning grew its stake in shares of 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 buying an additional 899 shares during the period. Finally, Reinhart Partners LLC. grew its stake in shares of TriNet Group by 10.4% in the 3rd quarter. Reinhart Partners LLC. now owns 232,955 shares of the business services provider’s stock valued at $22,590,000 after buying an additional 21,962 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

About TriNet Group

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.