TriNet Group (NYSE:TNET) Shares Gap Down – Here’s Why

TriNet Group, Inc. (NYSE:TNET) gapped down before the market opened on Friday . The stock had previously closed at $91.63, but opened at $81.65. TriNet Group shares last traded at $77.33, with a volume of 67,382 shares changing hands.

Analyst Upgrades and Downgrades

TNET has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 target price on shares of TriNet Group in a report on Wednesday, September 11th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.40.

TriNet Group Stock Performance

The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 13.06 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. The stock’s fifty day moving average is $97.10 and its two-hundred day moving average is $103.26.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Friday, July 26th. The business services provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.29. The firm had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $301.76 million. TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. On average, analysts predict that TriNet Group, Inc. will post 5.13 earnings per share for the current year.

TriNet Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, October 1st. TriNet Group’s dividend payout ratio (DPR) is presently 16.89%.

Insider Activity at TriNet Group

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s 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 sale, the chief financial officer now owns 82,409 shares of the company’s stock, valued at approximately $8,484,830.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Paul Edward Chamberlain sold 375 shares of the company’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 value of $39,937.50. Following the sale, the director now directly owns 37,966 shares in the company, valued at $4,043,379. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $482,161.68. Following the transaction, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Oliver Luxxe Assets LLC grew its position in TriNet Group by 1.4% during the first quarter. Oliver Luxxe Assets LLC now owns 5,860 shares of the business services provider’s stock valued at $776,000 after buying an additional 83 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in TriNet Group by 18.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 23,462 shares of the business services provider’s stock valued at $3,109,000 after acquiring an additional 3,646 shares during the period. JLB & Associates Inc. grew its position in shares of TriNet Group by 0.6% in the first quarter. JLB & Associates Inc. now owns 34,391 shares of the business services provider’s stock valued at $4,556,000 after purchasing an additional 216 shares in the last quarter. Van ECK Associates Corp lifted its holdings in TriNet Group by 108.1% during the 1st quarter. Van ECK Associates Corp now owns 49,289 shares of the business services provider’s stock worth $6,531,000 after purchasing an additional 25,606 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in TriNet Group by 23.2% in the 1st quarter. BNP Paribas Financial Markets now owns 43,952 shares of the business services provider’s stock worth $5,823,000 after purchasing an additional 8,275 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Company Profile

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.