TriNet Group (NYSE:TNET) Trading Down 12.7% – Should You Sell?

TriNet Group, Inc. (NYSE:TNET)’s stock price was down 12.7% during trading on Wednesday . The company traded as low as $44.78 and last traded at $44.8970. Approximately 647,649 shares were traded during trading, an increase of 55% from the average daily volume of 418,738 shares. The stock had previously closed at $51.43.

Analyst Ratings Changes

A number of analysts recently weighed in on TNET shares. Truist Financial began coverage on TriNet Group in a report on Friday, December 5th. They issued a “hold” rating and a $62.00 price objective for the company. TD Cowen decreased their price target on TriNet Group from $65.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, January 8th. UBS Group lowered their price objective on TriNet Group from $69.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. JPMorgan Chase & Co. reduced their target price on TriNet Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Finally, Zacks Research lowered shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TriNet Group currently has a consensus rating of “Reduce” and a consensus price target of $63.50.

TriNet Group Trading Down 12.1%

The firm’s 50 day simple moving average is $59.39 and its two-hundred day simple moving average is $62.30. The stock has a market capitalization of $2.17 billion, a P/E ratio of 16.69 and a beta of 0.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.14.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Friday, January 2nd were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $1.10 annualized dividend and a yield of 2.4%. TriNet Group’s dividend payout ratio (DPR) is presently 40.59%.

Insiders Place Their Bets

In related news, SVP Anthony Shea Treadway sold 459 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $54.52, for a total value of $25,024.68. Following the transaction, the senior vice president owned 28,224 shares of the company’s stock, valued at approximately $1,538,772.48. This trade represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sidney A. Majalya sold 775 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $61.86, for a total value of $47,941.50. Following the sale, the senior vice president directly owned 19,853 shares of the company’s stock, valued at $1,228,106.58. This represents a 3.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 2,798 shares of company stock worth $162,593. Insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in TriNet Group by 106.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 445 shares of the business services provider’s stock worth $30,000 after buying an additional 229 shares in the last quarter. Quarry LP grew its stake in shares of TriNet Group by 524.7% in the 3rd quarter. Quarry LP now owns 456 shares of the business services provider’s stock worth $31,000 after acquiring an additional 383 shares in the last quarter. CWM LLC raised its holdings in shares of TriNet Group by 140.5% in the second quarter. CWM LLC now owns 582 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 340 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in shares of TriNet Group during the third quarter valued at about $46,000. Finally, Covestor Ltd grew its position in TriNet Group by 402.7% in the 3rd quarter. Covestor Ltd now owns 1,282 shares of the business services provider’s stock worth $86,000 after purchasing an additional 1,027 shares in the last quarter. Hedge funds and other institutional investors 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.