JPMorgan Chase & Co. Lowers TriNet Group (NYSE:TNET) Price Target to $103.00

TriNet Group (NYSE:TNET) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $107.00 to $103.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.66% from the stock’s current price.

Other research analysts have also issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of TriNet Group in a report on Monday, July 29th. StockNews.com downgraded TriNet Group from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Finally, TD Cowen cut their price objective on TriNet Group from $132.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, TriNet Group currently has a consensus rating of “Hold” and a consensus target price of $118.40.

TriNet Group Price Performance

TNET stock traded down $2.10 during midday trading on Tuesday, reaching $94.79. The stock had a trading volume of 45,500 shares, compared to its average volume of 280,879. TriNet Group has a 52-week low of $91.59 and a 52-week high of $134.67. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84. The company’s fifty day simple moving average is $101.42 and its 200 day simple moving average is $112.43. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 15.54 and a beta of 1.19.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 EPS 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 business had revenue of $310.00 million for the quarter, compared to analyst estimates of $301.76 million. As a group, sell-side analysts predict that TriNet Group will post 5.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total transaction of $39,937.50. Following the completion of the sale, the director now owns 37,966 shares in the company, valued at $4,043,379. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On TriNet Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in shares of TriNet Group in the fourth quarter valued at approximately $26,000. Rothschild Investment LLC acquired a new position in shares of TriNet Group in the second quarter valued at approximately $45,000. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 104 shares during the period. Avion Wealth increased its holdings in shares of TriNet Group by 19.2% in 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 period. Finally, LRI Investments LLC acquired a new position in shares of TriNet Group in the first quarter valued at approximately $81,000. Hedge funds and other 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.