Fintel reports that on July 27, 2023, Needham maintained coverage of TriNet Group (NYSE:TNET) with a Buy recommendation.
Analyst Price Forecast Suggests 2.01% Downside
As of July 6, 2023, the average one-year price target for TriNet Group is 98.94. The forecasts range from a low of 87.87 to a high of $120.75. The average price target represents a decrease of 2.01% from its latest reported closing price of 100.97.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for TriNet Group is 5,359MM, an increase of 8.88%. The projected annual non-GAAP EPS is 5.33.
What is the Fund Sentiment?
There are 540 funds or institutions reporting positions in TriNet Group. This is an increase of 15 owner(s) or 2.86% in the last quarter. Average portfolio weight of all funds dedicated to TNET is 0.29%, an increase of 0.55%. Total shares owned by institutions decreased in the last three months by 0.78% to 60,980K shares. 
The put/call ratio of TNET is 0.40, indicating a bullish outlook.
What are Other Shareholders Doing?
Atairos Group holds 21,450K shares representing 36.10% ownership of the company. No change in the last quarter.
Mawer Investment Management holds 4,395K shares representing 7.40% ownership of the company. In it's prior filing, the firm reported owning 2,642K shares, representing an increase of 39.88%. The firm increased its portfolio allocation in TNET by 191,488.62% over the last quarter.
Wellington Management Group Llp holds 3,808K shares representing 6.41% ownership of the company. In it's prior filing, the firm reported owning 3,800K shares, representing an increase of 0.22%. The firm increased its portfolio allocation in TNET by 17.76% over the last quarter.
Cantillon Capital Management holds 3,415K shares representing 5.75% ownership of the company. In it's prior filing, the firm reported owning 3,477K shares, representing a decrease of 1.79%. The firm decreased its portfolio allocation in TNET by 24.68% over the last quarter.
Janus Henderson Group holds 1,272K shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 1,359K shares, representing a decrease of 6.83%. The firm decreased its portfolio allocation in TNET by 65.98% over the last quarter.
TriNet Group Background Information
(This description is provided by the company.)
TriNet provides small and medium-size businesses (SMBs) with full-service HR solutions tailored by industry. To free SMBs from HR complexities, TriNet offers access to human capital expertise, benefits, risk mitigation and compliance, payroll and real-time technology. From Main Street to Wall Street, TriNet empowers SMBs to focus on what matters most-growing their business. TriNet, incredible starts here.
Additional reading:
- TriNet Announces Second Quarter 2023 Results Total Revenues of $1.2 billion up 1% year-over-year Net Income per Diluted Share of $1.38 and Adjusted Net Income per Diluted Share of $1.74 TriNet Stock Repurchase Program Increased by $1 billion up to $1
- TriNet Group, Inc. Amended and Restated Executive Compensation Clawback Policy
- TriNet Group, Inc. Amended and Restated Non-Employee Director Compensation Policy
- tificate of Incorporation of TriNet Group, Inc.
- Third Amendment, dated as of May 22, 2023, to the 2021 Credit Agreement among the Borrower, the Company, the other loan parties party thereto, the lenders party thereto and the Administrative Agent
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
