TriNet Group (NYSE:TNET) Releases Quarterly Earnings Results, Misses Estimates By $0.14 EPS

TriNet Group (NYSE:TNET) issued its quarterly earnings results on Friday. The business services provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.14), reports. The business had revenue of $288.00 million for the quarter, compared to analyst estimates of $297.94 million. TriNet Group had a net margin of 5.29% and a return on equity of 261.74%. TriNet Group updated its Q4 2024 guidance to 0.060-0.570 EPS and its FY 2024 guidance to 4.950-5.450 EPS.

TriNet Group Price Performance

Shares of NYSE:TNET opened at $80.31 on Monday. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $3.99 billion, a PE ratio of 15.47 and a beta of 1.17. The stock has a fifty day moving average of $96.79 and a 200-day moving average of $102.72. TriNet Group has a one year low of $74.32 and a one year high of $134.67.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.25%. TriNet Group’s dividend payout ratio (DPR) is 19.27%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TNET shares. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of TriNet Group in a research report on Wednesday, September 11th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, TriNet Group has an average rating of “Hold” and a consensus target price of $118.40.

Insider Transactions at TriNet Group

In related news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction 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 completion of the transaction, the director now owns 37,966 shares in the company, valued at $4,043,379. This trade represents a 0.00 % decrease in their position. The transaction 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 shares were sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the sale, the director now owns 37,966 shares in the company, valued at approximately $4,043,379. This represents a 0.00 % 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, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction that occurred 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 owns 82,409 shares in the company, valued at approximately $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is owned by insiders.

Institutional Investors Weigh In On TriNet Group

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC lifted its position in shares of TriNet Group by 67.7% in the first quarter. Jane Street Group LLC now owns 1,149,929 shares of the business services provider’s stock worth $152,354,000 after purchasing an additional 464,289 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of TriNet Group by 960.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock valued at $31,269,000 after buying an additional 213,752 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of TriNet Group during the 2nd quarter valued at $20,610,000. Earnest Partners LLC increased its stake in shares of TriNet Group by 19.8% in the first quarter. Earnest Partners LLC now owns 898,335 shares of the business services provider’s stock worth $119,020,000 after acquiring an additional 148,779 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of TriNet Group by 9.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,217,214 shares of the business services provider’s stock worth $121,721,000 after acquiring an additional 103,809 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

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.