Key Points
- Director Brian Evanko bought 5,000 shares of TriNet Group stock at $37.70 per share, increasing his direct holdings by more than 109% to 9,565 shares.
- TriNet reported stronger-than-expected quarterly results, with EPS of $2.48 versus $1.84 expected and revenue of $1.23 billion versus $1.08 billion estimated, though revenue fell 5.1% year over year.
- The company recently raised its quarterly dividend to $0.29 per share and authorized a $400 million share repurchase program, while analysts currently have a consensus Hold rating with a $55.20 price target.
TriNet Group, Inc. (NYSE:TNET - Get Free Report) Director Brian Evanko bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average price of $37.70 per share, with a total value of $188,500.00. Following the transaction, the director directly owned 9,565 shares of the company's stock, valued at $360,600.50. This represents a 109.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
TriNet Group Stock Performance
NYSE:TNET opened at $42.92 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 10.80. TriNet Group, Inc. has a 12-month low of $33.60 and a 12-month high of $86.78. The stock has a 50-day moving average price of $38.84 and a 200 day moving average price of $49.30. The stock has a market capitalization of $1.97 billion, a P/E ratio of 12.81 and a beta of 1.02.
TriNet Group (NYSE:TNET - Get Free Report) last released its earnings results on Thursday, April 30th. The business services provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.64. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.08 billion. TriNet Group had a return on equity of 219.54% and a net margin of 3.22%.The firm's revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.99 earnings per share. TriNet Group has set its FY 2026 guidance at 3.700-4.700 EPS. Equities research analysts forecast that TriNet Group, Inc. will post 3.55 EPS for the current fiscal year.
TriNet Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Wednesday, April 1st were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, April 1st. This represents a $1.16 annualized dividend and a yield of 2.7%. This is a boost from TriNet Group's previous quarterly dividend of $0.28. TriNet Group's dividend payout ratio (DPR) is 34.63%.
TriNet Group declared that its board has authorized a stock repurchase plan on Thursday, February 12th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the business services provider to buy up to 18.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
Several equities analysts have weighed in on TNET shares. TD Cowen raised their price target on TriNet Group from $40.00 to $46.00 and gave the company a "hold" rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on TriNet Group from $43.00 to $45.00 and gave the stock an "underweight" rating in a report on Friday, May 1st. Zacks Research upgraded TriNet Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Stifel Nicolaus dropped 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. Finally, Weiss Ratings upgraded TriNet Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $55.20.
View Our Latest Report on TNET
Institutional Investors Weigh In On TriNet Group
A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its position in TriNet Group by 155.8% during the 3rd quarter. Barclays PLC now owns 461,946 shares of the business services provider's stock valued at $30,900,000 after purchasing an additional 281,332 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of TriNet Group by 19.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,353,004 shares of the business services provider's stock worth $157,392,000 after acquiring an additional 387,940 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of TriNet Group by 109.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 220,096 shares of the business services provider's stock worth $14,722,000 after acquiring an additional 114,892 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of TriNet Group by 14.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 849,863 shares of the business services provider's stock worth $56,847,000 after acquiring an additional 109,170 shares in the last quarter. Finally, Heron Bay Capital Management raised its position in shares of TriNet Group by 55.8% in the 3rd quarter. Heron Bay Capital Management now owns 122,480 shares of the business services provider's stock worth $8,193,000 after acquiring an additional 43,860 shares in the last quarter. 96.81% of the stock is owned by institutional investors.
About TriNet Group
(
Get Free Report)
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.
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