Insperity cut to Hold at Truist amid softening white collar labor trends

Truist analyst Tobey Sommer downgraded Insperity (NSP) to Hold from Buy with unchanged price target of $128. White collar labor trends appear to be softening and the SMB-focused optimism is expected to erode in the coming months, but Insperity shares are up 15% year-to-date, the analyst tells investors in a research note. The firm views the stock as a "good house in deteriorating neighborhood", with ManpowerGroup (MAN) having reported IT-focused Experis U.S. business declining 12% on a days adjusted basis.