Truist Financial Cuts Insperity (NYSE:NSP) Price Target to $88.00

Insperity (NYSE:NSP) had its target price lowered by Truist Financial from $95.00 to $88.00 in a report released on Friday morning, Benzinga reports. The firm currently has a hold rating on the business services provider’s stock.

Several other brokerages also recently commented on NSP. William Blair downgraded Insperity from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. assumed coverage on Insperity in a research note on Tuesday, October 22nd. They issued an “underweight” rating and a $90.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Insperity currently has an average rating of “Hold” and a consensus target price of $95.67.

Insperity Stock Down 4.6 %

Shares of NYSE:NSP opened at $75.18 on Friday. The company’s fifty day moving average is $87.39 and its 200-day moving average is $93.96. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.17 and a current ratio of 1.16. Insperity has a 52 week low of $74.32 and a 52 week high of $119.40. The company has a market capitalization of $2.82 billion, a PE ratio of 23.87, a P/E/G ratio of 2.17 and a beta of 1.12.

Insperity (NYSE:NSP) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Insperity had a net margin of 1.83% and a return on equity of 93.58%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. Equities research analysts predict that Insperity will post 2.42 earnings per share for the current fiscal year.

Insperity Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.19%. The ex-dividend date was Thursday, September 5th. Insperity’s dividend payout ratio is 76.19%.

Insider Activity

In related news, CEO Paul J. Sarvadi sold 16,123 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $92.23, for a total transaction of $1,487,024.29. Following the completion of the sale, the chief executive officer now directly owns 509,129 shares of the company’s stock, valued at $46,956,967.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.50% of the company’s stock.

Institutional Trading of Insperity

Institutional investors and hedge funds have recently modified their holdings of the stock. Retirement Systems of Alabama raised its position in shares of Insperity by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 44,484 shares of the business services provider’s stock valued at $4,876,000 after acquiring an additional 126 shares during the period. Andina Capital Management LLC raised its holdings in Insperity by 5.4% in the second quarter. Andina Capital Management LLC now owns 2,736 shares of the business services provider’s stock worth $250,000 after purchasing an additional 140 shares during the period. Grandeur Peak Global Advisors LLC boosted its position in shares of Insperity by 0.3% during the first quarter. Grandeur Peak Global Advisors LLC now owns 43,984 shares of the business services provider’s stock worth $4,821,000 after purchasing an additional 146 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Insperity by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 43,075 shares of the business services provider’s stock worth $3,929,000 after purchasing an additional 150 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Insperity by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 9,918 shares of the business services provider’s stock valued at $905,000 after buying an additional 185 shares during the period. 93.44% of the stock is owned by institutional investors.

About Insperity

Insperity, Inc engages in the provision of human resources (HR) and business solutions to improve business performance for small and medium-sized businesses primarily in the United States. It offers its HR services through its workforce optimization and workforce synchronization solutions that include a range of human resources functions, such as payroll and employment administration, employee benefits, workers' compensation, government compliance, performance management, and training and development services.