TriNet Group (NYSE:TNET) Downgraded by TD Cowen to Hold

TD Cowen cut shares of TriNet Group (NYSE:TNET) from a buy rating to a hold rating in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $74.00 target price on the business services provider’s stock, down from their previous target price of $104.00.

TNET has been the subject of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of TriNet Group in a report on Friday, February 14th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $103.00 price target on shares of TriNet Group in a research note on Tuesday, October 22nd.

TriNet Group Stock Down 4.0 %

Shares of NYSE TNET opened at $69.68 on Tuesday. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 20.37 and a beta of 1.21. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16. The firm’s fifty day moving average is $89.55 and its 200 day moving average is $92.89. TriNet Group has a 52 week low of $68.18 and a 52 week high of $134.67.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $225.72 million. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. On average, equities research analysts expect that TriNet Group will post 4.67 earnings per share for the current year.

TriNet Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.00 annualized dividend and a yield of 1.44%. TriNet Group’s payout ratio is 29.24%.

Insiders Place Their Bets

In related news, CTO Jeffery Jon Hayward sold 2,345 shares of TriNet Group stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $93.03, for a total transaction of $218,155.35. Following the completion of the transaction, the chief technology officer now directly owns 34,606 shares of the company’s stock, valued at $3,219,396.18. This trade represents a 6.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On TriNet Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC increased its position in TriNet Group by 25.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock valued at $58,000 after buying an additional 121 shares in the last quarter. LRI Investments LLC grew its stake in shares of TriNet Group by 643.8% in the fourth quarter. LRI Investments LLC now owns 662 shares of the business services provider’s stock worth $60,000 after acquiring an additional 573 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of TriNet Group by 45.5% during the fourth quarter. IFP Advisors Inc now owns 767 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 240 shares in the last quarter. KBC Group NV raised its position in shares of TriNet Group by 26.5% in the 3rd quarter. KBC Group NV now owns 950 shares of the business services provider’s stock worth $92,000 after purchasing an additional 199 shares during the last quarter. Finally, Avion Wealth boosted its stake in TriNet Group by 14.9% in the 4th quarter. Avion Wealth now owns 1,081 shares of the business services provider’s stock worth $98,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 96.81% of the company’s stock.

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.