TriNet Group (NYSE:TNET) Price Target Cut to $140.00

TriNet Group (NYSE:TNET) had its target price lowered by Needham & Company LLC from $150.00 to $140.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 32.43% from the stock’s previous close.

Several other research analysts have also commented on the stock. StockNews.com upgraded shares of TriNet Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Stifel Nicolaus increased their price target on shares of TriNet Group from $117.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, TD Cowen increased their price target on shares of TriNet Group from $129.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, TriNet Group currently has an average rating of “Moderate Buy” and a consensus target price of $117.50.

TriNet Group Stock Down 16.6 %

TriNet Group stock opened at $105.72 on Friday. The firm has a market cap of $5.35 billion, a PE ratio of 16.29 and a beta of 1.09. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day moving average price is $127.99 and its two-hundred day moving average price is $119.38. TriNet Group has a twelve month low of $79.00 and a twelve month high of $134.67.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $0.95 by $0.46. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. The company had revenue of $326.00 million for the quarter, compared to analyst estimates of $300.36 million. On average, research analysts predict that TriNet Group will post 5.79 EPS for the current fiscal year.

Insider Activity at TriNet Group

In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total value of $1,782,162.48. Following the completion of the sale, the executive vice president now directly owns 48,562 shares of the company’s stock, valued at approximately $6,064,422.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TriNet Group news, Director Wayne B. Lowell sold 10,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total value of $1,222,200.00. Following the completion of the sale, the director now directly owns 84,766 shares of the company’s stock, valued at approximately $10,360,100.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the sale, the executive vice president now directly owns 48,562 shares of the company’s stock, valued at $6,064,422.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,052 shares of company stock worth $3,837,142. 37.10% of the stock is owned by insiders.

Institutional Trading of TriNet Group

Hedge funds have recently bought and sold shares of the stock. Wedge Capital Management L L P NC lifted its holdings in shares of TriNet Group by 253.6% during the 4th quarter. Wedge Capital Management L L P NC now owns 144,083 shares of the business services provider’s stock worth $17,136,000 after acquiring an additional 103,330 shares during the period. Cookson Peirce & Co. Inc. bought a new position in shares of TriNet Group during the 4th quarter worth about $7,777,000. Jackson Creek Investment Advisors LLC bought a new position in shares of TriNet Group during the 3rd quarter worth about $1,105,000. Barclays PLC lifted its holdings in shares of TriNet Group by 29.9% during the 3rd quarter. Barclays PLC now owns 23,389 shares of the business services provider’s stock worth $2,725,000 after acquiring an additional 5,379 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of TriNet Group by 42.8% during the 3rd quarter. Van ECK Associates Corp now owns 8,401 shares of the business services provider’s stock worth $979,000 after acquiring an additional 2,518 shares during the period. 96.81% of the stock is owned by institutional investors.

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.