TriNet Group (NYSE:TNET) Shares Up 4.7% on Analyst Upgrade

TriNet Group, Inc. (NYSE:TNET)’s stock price rose 4.7% during trading on Wednesday after TD Cowen raised their price target on the stock from $92.00 to $104.00. TD Cowen currently has a buy rating on the stock. TriNet Group traded as high as $94.77 and last traded at $93.21. Approximately 78,522 shares were traded during trading, a decline of 74% from the average daily volume of 300,265 shares. The stock had previously closed at $89.04.

Several other research analysts have also commented on the stock. JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 price target on shares of TriNet Group in a report on Tuesday, October 22nd. Needham & Company LLC downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $117.00.

Insider Buying and Selling at TriNet Group

In other news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total transaction of $32,336.25. Following the completion of the sale, the director now directly owns 37,591 shares in the company, valued at $3,241,471.93. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction dated 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 of the company’s stock, valued at $8,484,830.64. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is owned by corporate insiders.

Institutional Trading of TriNet Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its stake in TriNet Group by 10.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,902 shares of the business services provider’s stock worth $1,577,000 after purchasing an additional 1,150 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TriNet Group by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider’s stock worth $376,053,000 after buying an additional 52,240 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of TriNet Group by 2.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,226 shares of the business services provider’s stock valued at $3,746,000 after buying an additional 778 shares during the period. LRI Investments LLC acquired a new stake in TriNet Group during the first quarter worth about $81,000. Finally, Hyperion Capital Advisors LP acquired a new position in TriNet Group in the first quarter valued at approximately $268,000. Institutional investors own 96.81% of the company’s stock.

TriNet Group Price Performance

The company has a market capitalization of $4.67 billion, a P/E ratio of 18.16 and a beta of 1.20. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day moving average price of $93.60 and a 200 day moving average price of $98.98.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, October 1st. TriNet Group’s payout ratio is 19.27%.

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.