TriNet Group (NYSE:TNET) Price Target Raised to $135.00 at Needham & Company LLC

TriNet Group (NYSE:TNET) had its price target lifted by Needham & Company LLC from $120.00 to $135.00 in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other equities research analysts have also issued reports on TNET. TD Cowen raised TriNet Group from a market perform rating to an outperform rating and upped their price target for the company from $95.00 to $125.00 in a research report on Monday, August 7th. StockNews.com began coverage on TriNet Group in a research note on Thursday, August 17th. They set a buy rating for the company. Credit Suisse Group restated a neutral rating and set a $87.00 price objective on shares of TriNet Group in a research note on Thursday, July 27th. Finally, JPMorgan Chase & Co. upped their price objective on TriNet Group from $90.00 to $107.00 and gave the stock an underweight rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $99.67.

TriNet Group Stock Performance

Shares of TNET opened at $117.33 on Monday. The business’s 50 day moving average is $103.93 and its two-hundred day moving average is $93.63. TriNet Group has a 52-week low of $60.60 and a 52-week high of $117.58. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 21.14 and a beta of 1.16. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.54.

TriNet Group (NYSE:TNET) last announced its earnings results on Wednesday, July 26th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. TriNet Group had a return on equity of 45.40% and a net margin of 6.91%. The company had revenue of $341.00 million for the quarter, compared to analyst estimates of $310.34 million. Analysts forecast that TriNet Group will post 6.09 EPS for the current fiscal year.

Insider Activity

In related news, CEO Burton M. Goldfield sold 7,000 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $94.99, for a total value of $664,930.00. Following the completion of the sale, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $16,740,942.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Burton M. Goldfield sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $94.99, for a total transaction of $664,930.00. Following the completion of the sale, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $16,740,942.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 2,786 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $95.94, for a total value of $267,288.84. Following the sale, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at $16,908,369.66. The disclosure for this sale can be found here. Insiders sold a total of 3,432,735 shares of company stock valued at $367,189,511 over the last three months. Insiders own 37.40% of the company’s stock.

Institutional Trading of TriNet Group

A number of hedge funds have recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its position in TriNet Group by 3.0% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 3,629 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 104 shares during the last quarter. Ronald Blue Trust Inc. increased its stake in shares of TriNet Group by 24.0% in the 1st quarter. Ronald Blue Trust Inc. now owns 630 shares of the business services provider’s stock valued at $43,000 after buying an additional 122 shares during the period. Amalgamated Bank increased its stake in shares of TriNet Group by 2.2% in the 4th quarter. Amalgamated Bank now owns 6,192 shares of the business services provider’s stock valued at $420,000 after buying an additional 132 shares during the period. Raymond James & Associates increased its stake in shares of TriNet Group by 1.5% in the 4th quarter. Raymond James & Associates now owns 9,218 shares of the business services provider’s stock valued at $625,000 after buying an additional 140 shares during the period. Finally, Avion Wealth increased its stake in shares of TriNet Group by 85.3% in the 2nd quarter. Avion Wealth now owns 354 shares of the business services provider’s stock valued at $33,000 after buying an additional 163 shares during the period. Institutional investors own 93.58% of the company’s stock.

TriNet Group Company Profile

TriNet Group, Inc provides human resources (HR) consulting services, employee benefit options, payroll services, and employment risk mitigation 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.