Needham & Company LLC Reiterates Hold Rating for TriNet Group (NYSE:TNET)

TriNet Group (NYSE:TNET)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

Separately, TD Cowen cut shares of TriNet Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $104.00 to $74.00 in a research note on Tuesday, February 18th.

TriNet Group Stock Down 1.1 %

TNET stock opened at $72.24 on Thursday. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s fifty day simple moving average is $84.50 and its 200-day simple moving average is $90.62. TriNet Group has a 12 month low of $65.43 and a 12 month high of $134.67. The company has a market capitalization of $3.58 billion, a P/E ratio of 21.12 and a beta of 1.26.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $252.00 million for the quarter, compared to the consensus estimate of $225.72 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. As a group, equities research analysts forecast that TriNet Group will post 3.04 earnings per share for the current year.

Insider Buying and Selling

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $41,616.00. Following the completion of the sale, the director now directly owns 36,991 shares in the company, valued at approximately $2,565,695.76. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $94,607.04. Following the completion of the transaction, the chief technology officer now owns 19,867 shares in the company, valued at approximately $1,377,975.12. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,748 shares of company stock valued at $833,436. 37.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new stake in shares of TriNet Group in the fourth quarter valued at about $456,581,000. Capital Research Global Investors lifted its stake in TriNet Group by 98.2% in the 4th quarter. Capital Research Global Investors now owns 2,822,839 shares of the business services provider’s stock worth $256,229,000 after purchasing an additional 1,398,573 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of TriNet Group during the 4th quarter worth approximately $35,567,000. Massachusetts Financial Services Co. MA grew its position in shares of TriNet Group by 32.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock valued at $156,018,000 after purchasing an additional 391,720 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of TriNet Group by 23.1% in the fourth quarter. Wellington Management Group LLP now owns 1,626,902 shares of the business services provider’s stock valued at $147,674,000 after purchasing an additional 305,165 shares during the last quarter. 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.