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

TD Cowen lowered shares of TriNet Group (NYSE:TNET) from a buy rating to a hold rating in a report published on Tuesday morning, Marketbeat reports. The brokerage currently has $74.00 price objective on the business services provider’s stock, down from their prior price objective of $104.00.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of TriNet Group in a research note on Friday, February 14th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a research report on Tuesday, October 22nd.

TriNet Group Stock Down 6.8 %

TNET stock opened at $72.32 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 7.70. The company’s 50-day moving average price is $90.94 and its 200 day moving average price is $93.39. TriNet Group has a 52 week low of $71.27 and a 52 week high of $134.67. The company has a market cap of $3.59 billion, a P/E ratio of 13.93 and a beta of 1.21.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.27 EPS for the quarter, topping 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%. The business had revenue of $252.00 million for the quarter, compared to analyst estimates of $225.72 million. On average, research analysts expect that TriNet Group will post 4.14 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, January 2nd. TriNet Group’s dividend payout ratio (DPR) is 29.24%.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,813 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $92.74, for a total transaction of $168,137.62. Following the completion of the sale, the chief technology officer now owns 36,951 shares in the company, 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 this link. Insiders sold 11,942 shares of company stock valued at $1,083,506 in the last ninety days. Company insiders own 37.10% of the company’s stock.

Institutional Trading of TriNet Group

A number of institutional investors have recently added to or reduced their stakes in TNET. Wealthfront Advisers LLC acquired a new stake in TriNet Group in the fourth quarter valued at approximately $456,581,000. Capital Research Global Investors grew its position in TriNet Group by 98.2% in the fourth quarter. Capital Research Global Investors now owns 2,822,839 shares of the business services provider’s stock valued at $256,229,000 after acquiring an additional 1,398,573 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in TriNet Group in the fourth quarter valued at approximately $35,567,000. Massachusetts Financial Services Co. MA grew its position in TriNet Group by 32.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock valued at $156,018,000 after acquiring an additional 391,720 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in TriNet Group by 23.1% in the fourth quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider’s stock valued at $147,674,000 after acquiring an additional 305,165 shares in the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

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.