Needham & Company LLC Downgrades TriNet Group (NYSE:TNET) to Hold

TriNet Group (NYSE:TNET) was downgraded by stock analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $140.00 price objective on the business services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 61.23% from the company’s current price.

Separately, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, TriNet Group has an average rating of “Hold” and a consensus price target of $113.20.

TriNet Group Stock Up 5.1 %

Shares of NYSE:TNET opened at $86.83 on Monday. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.04 and a current ratio of 1.04. TriNet Group has a 1 year low of $74.32 and a 1 year high of $134.67. The stock has a market capitalization of $4.31 billion, a P/E ratio of 15.99 and a beta of 1.17. The stock has a 50-day simple moving average of $96.51 and a 200-day simple moving average of $102.18.

Insiders Place Their Bets

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 owns 82,409 shares in the company, valued at $8,484,830.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 37.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On TriNet Group

Several institutional investors and hedge funds have recently made changes to their positions in TNET. Jane Street Group LLC boosted its stake in shares of TriNet Group by 67.7% during the 1st quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock valued at $152,354,000 after buying an additional 464,289 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of TriNet Group by 960.6% during 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 buying an additional 213,752 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of TriNet Group during the 2nd quarter valued at approximately $20,610,000. Earnest Partners LLC raised its position in shares of TriNet Group by 19.8% during the 1st quarter. Earnest Partners LLC now owns 898,335 shares of the business services provider’s stock valued at $119,020,000 after acquiring an additional 148,779 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of TriNet Group by 9.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,217,214 shares of the business services provider’s stock valued at $121,721,000 after acquiring an additional 103,809 shares in the last quarter. 96.81% of the stock is currently owned by hedge funds and other 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.