Stifel raised its price target on TriNet Group (NYSE: TNET) to $51.00 (from $44.00) while maintaining a Buy rating following the company's 3Q earnings report. The $0.29 of EPS outperformance was driven by lower healthcare costs ($0.14) consisting of better claims experience and higher enrollment, better workers comp experience ($0.05), lower operating expense ($0.06), and better professional services ($0.04).

Management indicated that it will pass on a portion of lower insurance costs to its clients, which is consistent with its previous commentary that it is driving down costs to drive up the value proposition and increase share.