Cowen initiated coverage on shares of TriNet Group (NYSE:TNET – Get Rating) in a research report report published on Thursday, MarketBeat.com reports. The brokerage issued a market perform rating and a $83.00 target price on the business services provider's stock.
A number of other research firms also recently commented on TNET. StockNews.com downgraded shares of TriNet Group from a strong-buy rating to a buy rating in a report on Wednesday, July 27th. Cowen began coverage on shares of TriNet Group in a report on Thursday. They issued a market perform rating and a $83.00 target price on the stock. Finally, JPMorgan Chase & Co. downgraded shares of TriNet Group from a neutral rating to an underweight rating and boosted their target price for the stock from $89.00 to $96.00 in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $88.00.
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TriNet Group Stock Up 0.9 %
TNET stock opened at $82.16 on Thursday. TriNet Group has a 52 week low of $69.16 and a 52 week high of $109.40. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 14.29 and a beta of 1.19. The firm's 50-day moving average is $83.22 and its two-hundred day moving average is $84.73. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.65.
TriNet Group (NYSE:TNET – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The business services provider reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.54. TriNet Group had a net
margin of 7.86% and a return on equity of 49.91%. The company had revenue of $348.00 million for the quarter, compared to the consensus estimate of $299.68 million. On average, analysts forecast that TriNet Group will post 5.31 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Jonathan D. Lee sold 953 shares of the business's stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $89.55, for a total transaction of $85,341.15. Following the transaction, the insider now directly owns 13,836 shares of the company's stock, valued at $1,239,013.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jonathan D. Lee sold 953 shares of the business's stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $89.55, for a total transaction of $85,341.15. Following the transaction, the insider now directly owns 13,836 shares of the company's stock, valued at $1,239,013.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director H Raymond Bingham sold 415 shares of the business's stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $74.40, for a total transaction of $30,876.00. Following the completion of the sale, the director now directly owns 85,419 shares of the company's stock, valued at $6,355,173.60. The disclosure for this sale can be found here. Insiders have sold 20,368 shares of company stock worth $1,666,356 over the last 90 days. 40.60% of the stock is owned by company insiders.
Institutional Trading of TriNet Group
Several large investors have recently added to or reduced their stakes in TNET. Catalyst Capital Advisors LLC bought a new stake in TriNet Group in the first quarter worth approximately $38,000. Captrust Financial Advisors boosted its holdings in shares of TriNet Group by 78.7% during the 2nd quarter. Captrust Financial Advisors now owns 620 shares of the business services provider's stock worth $48,000 after buying an additional 273 shares during the period. Institutional Venture Management XIV LLC bought a new stake in shares of TriNet Group during the 1st quarter worth $50,000. Parallel Advisors LLC boosted its holdings in shares of TriNet Group by 4,961.5% during the 2nd quarter. Parallel Advisors LLC now owns 658 shares of the business services provider's stock worth $51,000 after buying an additional 645 shares during the period. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of TriNet Group by 20.5% during the 2nd quarter. Banque Cantonale Vaudoise now owns 742 shares of the business services provider's stock worth $58,000 after buying an additional 126 shares during the period. 92.09% of the stock is owned by institutional investors.
TriNet Group Company Profile
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TriNet Group, Inc provides human resources (HR) solutions, payroll services, employee benefits, and employment risk mitigation services for small and midsize 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.
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