TriNet Group’s (TNET) “Buy” Rating Reiterated at Needham & Company LLC

TriNet Group (NYSE:TNET)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They presently have a $140.00 price target on the business services provider’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 48.45% from the company’s current price.

Other research analysts have also issued reports about the company. TD Cowen cut their target price on TriNet Group from $132.00 to $118.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. JPMorgan Chase & Co. decreased their target price on TriNet Group from $107.00 to $103.00 and set an “underweight” rating for the company in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $118.40.

TriNet Group Trading Up 1.4 %

Shares of TriNet Group stock opened at $94.31 on Wednesday. TriNet Group has a fifty-two week low of $91.59 and a fifty-two week high of $134.67. The business’s fifty day moving average is $100.45 and its two-hundred day moving average is $110.25. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. The firm has a market cap of $4.68 billion, a PE ratio of 15.46 and a beta of 1.17.

TriNet Group (NYSE:TNET) last released its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.29. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%. The firm had revenue of $310.00 million for the quarter, compared to the consensus estimate of $301.76 million. Analysts anticipate that TriNet Group will post 5.13 earnings per share for the current year.

Insider Buying and Selling at TriNet Group

In related news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the sale, the director now owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the sale, the chief financial officer now owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the transaction, the director now owns 37,966 shares in the company, valued at $4,043,379. The disclosure for this sale can be found here. 37.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TriNet Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Securities Inc. bought a new stake in TriNet Group during the fourth quarter valued at $26,000. Rothschild Investment LLC bought a new position in TriNet Group in the second quarter worth about $45,000. Blue Trust Inc. boosted its stake in TriNet Group by 24.9% in the second quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 104 shares during the period. Avion Wealth grew its holdings in shares of TriNet Group by 19.2% during the second quarter. Avion Wealth now owns 800 shares of the business services provider’s stock valued at $80,000 after purchasing an additional 129 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of TriNet Group during the first quarter valued at approximately $81,000. 96.81% of the stock is owned by institutional investors and hedge funds.

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.