TD Cowen Cuts TriNet Group (NYSE:TNET) Price Target to $64.00

TriNet Group (NYSE:TNET) had its price target cut by TD Cowen from $65.00 to $64.00 in a report issued on Thursday,Benzinga reports. They currently have a hold rating on the business services provider’s stock.

Several other research analysts have also recently commented on the company. JPMorgan Chase & Co. cut their price target on TriNet Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Zacks Research cut TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. UBS Group decreased their price target on shares of TriNet Group from $69.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TriNet Group in a report on Wednesday, October 8th. Finally, Truist Financial assumed coverage on shares of TriNet Group in a research report on Friday, December 5th. They set a “hold” rating and a $62.00 price target on the stock. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $63.50.

TriNet Group Stock Performance

TNET opened at $62.44 on Thursday. The stock has a market cap of $3.00 billion, a P/E ratio of 23.04 and a beta of 0.82. The company has a debt-to-equity ratio of 8.14, a current ratio of 1.11 and a quick ratio of 1.11. TriNet Group has a 1 year low of $54.22 and a 1 year high of $97.02. The firm has a fifty day moving average price of $57.99 and a 200 day moving average price of $63.85.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.39. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $261.92 million. TriNet Group had a net margin of 2.64% and a return on equity of 212.38%. TriNet Group’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.17 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Equities research analysts anticipate that TriNet Group will post 3.04 earnings per share for the current year.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Friday, January 2nd will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $1.10 annualized dividend and a yield of 1.8%. TriNet Group’s dividend payout ratio (DPR) is currently 40.59%.

Insider Transactions at TriNet Group

In other news, SVP Anthony Shea Treadway sold 459 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $54.52, for a total transaction of $25,024.68. Following the completion of the transaction, the senior vice president owned 28,224 shares in the company, valued at approximately $1,538,772.48. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 600 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $57.81, for a total transaction of $34,686.00. Following the completion of the transaction, the director owned 37,840 shares of the company’s stock, valued at approximately $2,187,530.40. This trade represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,623 shares of company stock worth $149,338. Insiders own 38.10% of the company’s stock.

Institutional Investors Weigh In On TriNet Group

Several institutional investors have recently bought and sold shares of TNET. Hsbc Holdings PLC increased its stake in TriNet Group by 758.6% in the 2nd quarter. Hsbc Holdings PLC now owns 35,247 shares of the business services provider’s stock worth $2,563,000 after purchasing an additional 31,142 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of TriNet Group by 90.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 648,630 shares of the business services provider’s stock valued at $47,441,000 after acquiring an additional 307,440 shares during the period. Strs Ohio acquired a new stake in shares of TriNet Group during the first quarter valued at approximately $357,000. Heron Bay Capital Management lifted its position in shares of TriNet Group by 28.2% in the 2nd quarter. Heron Bay Capital Management now owns 78,620 shares of the business services provider’s stock valued at $5,750,000 after acquiring an additional 17,287 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in TriNet Group in the 2nd quarter worth approximately $492,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

TriNet Group Company Profile

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers’ compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.