TriNet Group (NYSE:TNET) Lowered to Hold Rating by TD Cowen

TriNet Group (NYSE:TNET) was downgraded by investment analysts at TD Cowen from a “buy” rating to a “hold” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. They currently have a $74.00 price target on the business services provider’s stock, down from their previous price target of $104.00. TD Cowen’s target price would indicate a potential downside of 4.34% from the stock’s current price.

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

TriNet Group Stock Performance

Shares of TriNet Group stock opened at $77.35 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70. TriNet Group has a 52 week low of $74.32 and a 52 week high of $134.67. The firm’s 50 day moving average is $90.94 and its two-hundred day moving average is $93.39. The firm has a market capitalization of $3.84 billion, a P/E ratio of 14.90 and a beta of 1.21.

TriNet Group (NYSE:TNET) last posted its earnings results on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a net margin of 5.29% and a return on equity of 248.94%. The firm had revenue of $252.00 million for the quarter, compared to the consensus estimate of $225.72 million. Research analysts forecast that TriNet Group will post 4.14 EPS for the current fiscal year.

Insider Activity at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,813 shares of TriNet Group stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $92.74, for a total value of $168,137.62. Following the sale, the chief technology officer now owns 36,951 shares of the company’s stock, valued at approximately $3,426,835.74. The trade was a 4.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 11,942 shares of company stock worth $1,083,506 in the last quarter. Company insiders own 37.10% of the company’s stock.

Institutional Trading of TriNet Group

Hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC lifted its holdings in TriNet Group by 25.5% in the third quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 121 shares during the period. Avion Wealth lifted its stake in shares of TriNet Group by 14.9% in the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 140 shares during the period. Summit Investment Advisors Inc. boosted its holdings in TriNet Group by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,344 shares of the business services provider’s stock worth $304,000 after buying an additional 149 shares in the last quarter. Franklin Resources Inc. boosted its holdings in TriNet Group by 3.4% during the third quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider’s stock worth $499,000 after buying an additional 169 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its position in TriNet Group by 2.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,731 shares of the business services provider’s stock worth $702,000 after buying an additional 196 shares during the period. 96.81% of the stock is owned by institutional investors and hedge funds.

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.