TriNet Group (NYSE:TNET) Price Target Raised to $104.00

TriNet Group (NYSE:TNET) had its target price upped by TD Cowen from $92.00 to $104.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

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

TriNet Group Trading Up 0.8 %

NYSE TNET opened at $93.02 on Wednesday. The company has a market cap of $4.61 billion, a PE ratio of 17.79 and a beta of 1.20. 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 stock has a 50 day moving average of $93.51 and a 200-day moving average of $98.90. TriNet Group has a 12 month low of $74.32 and a 12 month high of $134.67.

TriNet Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Tuesday, October 1st. TriNet Group’s payout ratio is presently 19.27%.

Insider Buying and Selling

In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction 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 directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the 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 approximately $3,241,471.93. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TriNet Group

Several institutional investors have recently added to or reduced their stakes in TNET. Wedge Capital Management L L P NC boosted its holdings in shares of TriNet Group by 14.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 163,600 shares of the business services provider’s stock valued at $16,360,000 after buying an additional 20,680 shares in the last quarter. Boston Partners raised its holdings in shares of TriNet Group by 20.8% during the first quarter. Boston Partners now owns 108,157 shares of the business services provider’s stock valued at $14,319,000 after purchasing an additional 18,586 shares during the last quarter. US Bancorp DE boosted its stake in shares of TriNet Group by 9,893.1% in the 3rd quarter. US Bancorp DE now owns 7,195 shares of the business services provider’s stock worth $698,000 after buying an additional 7,123 shares during the last quarter. Summit Global Investments purchased a new position in TriNet Group in the third quarter worth about $605,000. Finally, Harbor Capital Advisors Inc. grew its position in TriNet Group by 276.7% during the second quarter. Harbor Capital Advisors Inc. now owns 9,439 shares of the business services provider’s stock valued at $944,000 after buying an additional 6,933 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

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.