Fintel reports that on August 7, 2023, TD Cowen upgraded their outlook for TriNet Group (NYSE:TNET) from Market Perform to Outperform .
Analyst Price Forecast Suggests 1.37% Downside
As of August 2, 2023, the average one-year price target for TriNet Group is 104.04. The forecasts range from a low of 87.87 to a high of $126.00. The average price target represents a decrease of 1.37% from its latest reported closing price of 105.49.
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 542 funds or institutions reporting positions in TriNet Group. This is an increase of 28 owner(s) or 5.45% in the last quarter. Average portfolio weight of all funds dedicated to TNET is 0.29%, a decrease of 1.18%. Total shares owned by institutions decreased in the last three months by 2.62% to 61,222K shares. 
The put/call ratio of TNET is 1.33, indicating a bearish outlook.
What are Other Shareholders Doing?
Atairos Group holds 21,450K shares representing 35.94% ownership of the company. No change in the last quarter.
Mawer Investment Management holds 4,395K shares representing 7.36% 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 6.38% 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 5.72% 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 2.13% 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 Pricing of Private Offering of $400 Million of Senior Notes due 2031
- TRINET GROUP, INC. Offer to Purchase for Cash Up to 5,981,308 Shares of its Common Stock At a Purchase Price of $107.00 Per Share CUSIP: 896288107
- LETTER OF TRANSMITTAL To Tender Up to 5,981,308 Shares of Common Stock Pursuant to the Offer to Purchase Dated August 1, 2023 by TRINET GROUP, INC. of Up to 5,981,308 Shares of its Common Stock At a Purchase Price of $107.00 Per Share
- NOTICE OF GUARANTEED DELIVERY (Not to Be Used For Signature Guarantee) To Tender Up to 5,981,308 Shares of Common Stock Pursuant to the Offer to Purchase Dated August 1, 2023 by TRINET GROUP, INC. of Up to 5,981,308 Shares of its Common Stock At a Pu
- Offer by TRINET GROUP, INC. to Purchase for Cash Up to 5,981,308 Shares of its Common Stock At a Purchase Price of $107.00 Per Share
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.
