TriNet Group (NYSE:TNET) Given New $104.00 Price Target at TD Cowen

TriNet Group (NYSE:TNET) had its price objective lifted by TD Cowen from $92.00 to $104.00 in a research report report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the business services provider’s stock.

Several other research analysts have also weighed in on TNET. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC cut TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 target price for the company. in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $117.00.

TriNet Group Stock Up 5.8 %

TNET opened at $94.24 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 7.70. The company has a 50-day moving average price of $93.60 and a 200 day moving average price of $98.98. TriNet Group has a twelve month low of $74.32 and a twelve month high of $134.67. The company has a market cap of $4.67 billion, a PE ratio of 18.16 and a beta of 1.20.

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Tuesday, October 1st. TriNet Group’s dividend payout ratio (DPR) is presently 19.27%.

Insiders Place Their Bets

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the transaction, the chief financial officer now owns 82,409 shares in the company, valued at approximately $8,484,830.64. The trade was a 5.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the transaction, the director now directly owns 37,591 shares of the company’s stock, valued at approximately $3,241,471.93. This trade represents a 0.99 % decrease in their position. 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 hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC bought a new stake in shares of TriNet Group in the 2nd quarter worth about $45,000. Blue Trust Inc. boosted its holdings in shares of TriNet Group by 24.9% during the 2nd quarter. Blue Trust Inc. now owns 522 shares of the business services provider’s stock worth $52,000 after purchasing an additional 104 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of TriNet Group by 25.5% during the third quarter. TD Private Client Wealth LLC now owns 595 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 121 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of TriNet Group in the 1st quarter valued at $81,000. Finally, Avion Wealth grew its position in TriNet Group by 19.2% during the 2nd quarter. Avion Wealth now owns 800 shares of the business services provider’s stock worth $80,000 after purchasing an additional 129 shares during 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.