TriNet Group (NYSE:TNET) Stock Rating Reaffirmed by JPMorgan Chase & Co.

TriNet Group (NYSE:TNET)‘s stock had its “underweight” rating restated by stock analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday, Marketbeat reports. They presently have a $103.00 price objective on the business services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 10.36% from the stock’s current price.

A number of other analysts have also recently commented on TNET. TD Cowen lowered their price target on TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of TriNet Group in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, TriNet Group currently has a consensus rating of “Hold” and a consensus price target of $118.40.

TriNet Group Stock Performance

TNET opened at $93.33 on Tuesday. The company has a market cap of $4.72 billion, a P/E ratio of 15.30 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. The firm’s 50-day moving average price is $97.18 and its 200-day moving average price is $103.34. TriNet Group has a 52-week low of $89.93 and a 52-week high of $134.67.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.29. The business had revenue of $310.00 million for the quarter, compared to analyst estimates of $301.76 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. As a group, equities analysts anticipate that TriNet Group will post 5.13 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On TriNet Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC grew its holdings in TriNet Group by 67.7% in the first quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock valued at $152,354,000 after purchasing an additional 464,289 shares during the period. Price T Rowe Associates Inc. MD grew its stake in TriNet Group by 960.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock valued at $31,269,000 after acquiring an additional 213,752 shares during the period. Point72 Asset Management L.P. purchased a new stake in TriNet Group in the 2nd quarter worth $20,610,000. Earnest Partners LLC increased its holdings in TriNet Group by 19.8% in the 1st quarter. Earnest Partners LLC now owns 898,335 shares of the business services provider’s stock worth $119,020,000 after acquiring an additional 148,779 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in TriNet Group by 9.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,217,214 shares of the business services provider’s stock worth $121,721,000 after acquiring an additional 103,809 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

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.