TriNet Group (NYSE:TNET) Shares Gap Down – Here’s What Happened

TriNet Group, Inc. (NYSE:TNET)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $92.13, but opened at $86.97. TriNet Group shares last traded at $81.99, with a volume of 115,224 shares trading hands.

Wall Street Analysts Forecast Growth

TNET has been the topic of a number of recent analyst reports. TD Cowen lifted their target price on TriNet Group from $92.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of TriNet Group in a research report on Friday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, TriNet Group presently has a consensus rating of “Hold” and an average target price of $117.00.

TriNet Group Stock Performance

The company has a market capitalization of $3.84 billion, a P/E ratio of 14.90 and a beta of 1.21. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day moving average price of $91.60 and a two-hundred day moving average price of $93.91.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. TriNet Group had a return on equity of 248.94% and a net margin of 5.29%. Equities analysts forecast that TriNet Group, Inc. will post 4.14 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, January 2nd. TriNet Group’s payout ratio is 19.27%.

Insider Transactions at TriNet Group

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

Institutional Investors Weigh In On TriNet Group

Several institutional investors have recently bought and sold shares of the stock. Wealthfront Advisers LLC bought a new stake in TriNet Group during the fourth quarter worth $456,581,000. Vanguard Group Inc. grew its stake in TriNet Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider’s stock valued at $271,585,000 after purchasing an additional 36,216 shares during the period. Capital Research Global Investors grew its stake in TriNet Group by 98.2% in the 4th quarter. Capital Research Global Investors now owns 2,822,839 shares of the business services provider’s stock valued at $256,229,000 after purchasing an additional 1,398,573 shares during the period. Massachusetts Financial Services Co. MA grew its stake in TriNet Group by 18.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,898,005 shares of the business services provider’s stock valued at $172,282,000 after purchasing an additional 289,071 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of TriNet Group by 23.1% during the 4th quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider’s stock worth $147,674,000 after acquiring an additional 305,165 shares during the period. 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.