TriNet Group (NYSE:TNET) Downgraded to Strong Sell Rating by Zacks Research

TriNet Group (NYSE:TNET) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Several other research firms have also weighed in on TNET. Stifel Nicolaus reduced their target price on TriNet Group from $97.00 to $75.00 and set a “buy” rating for the company in a report on Friday, February 13th. JPMorgan Chase & Co. dropped their price target on shares of TriNet Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (d+)” rating on shares of TriNet Group in a research note on Wednesday, January 21st. UBS Group decreased their price objective on shares of TriNet Group from $69.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Finally, Truist Financial initiated coverage on shares of TriNet Group in a report on Friday, December 5th. They issued a “hold” rating and a $62.00 target price on the stock. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $65.80.

TriNet Group Stock Down 9.9%

TNET stock opened at $38.47 on Thursday. The firm has a market cap of $1.82 billion, a PE ratio of 12.17 and a beta of 0.81. TriNet Group has a 1 year low of $38.44 and a 1 year high of $88.56. The company has a fifty day simple moving average of $56.83 and a 200 day simple moving average of $60.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 16.57.

TriNet Group (NYSE:TNET) last posted its earnings results on Thursday, February 12th. The business services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.09. TriNet Group had a return on equity of 215.01% and a net margin of 3.09%.The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $251.57 million. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. TriNet Group has set its FY 2026 guidance at 3.700-4.700 EPS. Sell-side analysts anticipate that TriNet Group will post 3.04 EPS for the current fiscal year.

TriNet Group declared that its board has approved a stock buyback plan on Thursday, February 12th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to purchase up to 18.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Sidney A. Majalya sold 775 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $61.86, for a total transaction of $47,941.50. Following the completion of the transaction, the senior vice president owned 19,853 shares of the company’s stock, valued at approximately $1,228,106.58. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeffery Jon Hayward sold 1,437 shares of TriNet Group stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $57.51, for a total value of $82,641.87. Following the sale, the chief technology officer directly owned 27,922 shares in the company, valued at approximately $1,605,794.22. This trade represents a 4.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,699 shares of company stock valued at $150,945. Insiders own 38.10% of the company’s stock.

Hedge Funds Weigh In On TriNet Group

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of TriNet Group by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,009 shares of the business services provider’s stock worth $1,506,000 after purchasing an additional 819 shares in the last quarter. Millennium Management LLC lifted its position in TriNet Group by 3,995.7% in the first quarter. Millennium Management LLC now owns 138,926 shares of the business services provider’s stock worth $11,008,000 after purchasing an additional 135,534 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in TriNet Group by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,575 shares of the business services provider’s stock worth $6,068,000 after purchasing an additional 470 shares during the period. Jane Street Group LLC acquired a new stake in TriNet Group during the first quarter worth $3,204,000. Finally, Intech Investment Management LLC increased its holdings in TriNet Group by 10.3% in the 1st quarter. Intech Investment Management LLC now owns 16,862 shares of the business services provider’s stock valued at $1,336,000 after buying an additional 1,577 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.

About TriNet Group

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.