TriNet Group Inc. (TNET) Cut to “Strong Sell” at Zacks Investment Research
TriNet Group Inc. (NYSE:TNET) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday.
According to Zacks, “TriNet Group, Inc. is a provider of a comprehensive human resources solution for small to medium-sized businesses. It offers payroll, tax administration, risk protection, performance management, compensation consulting, and employee benefit plans. The Company serves banking and financial services, biotech and life sciences, technology, non-profits, professional services, venture capital, and advertising and marketing industries. TriNet Group, Inc. is headquartered in San Leandro, California. “
TNET has been the topic of a number of other reports. Deutsche Bank AG upped their target price on shares of TriNet Group from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Piper Jaffray Cos. upped their target price on shares of TriNet Group from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Morgan Stanley downgraded shares of TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 target price on the stock. in a research report on Thursday, August 4th. They noted that the move was a valuation call. Finally, Jefferies Group upped their target price on shares of TriNet Group from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. TriNet Group presently has an average rating of “Hold” and an average target price of $22.33.
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Shares of TriNet Group (NYSE:TNET) traded down 2.51% during midday trading on Tuesday, reaching $20.59. 76,367 shares of the company’s stock traded hands. The stock has a market cap of $1.45 billion, a P/E ratio of 36.12 and a beta of 2.73. TriNet Group has a 12 month low of $11.10 and a 12 month high of $22.97. The stock has a 50 day moving average of $21.14 and a 200-day moving average of $19.71.
TriNet Group (NYSE:TNET) last released its earnings results on Monday, August 1st. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The firm had revenue of $745.80 million for the quarter, compared to the consensus estimate of $148.11 million. TriNet Group had a net margin of 1.43% and a return on equity of 439.36%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. On average, equities research analysts forecast that TriNet Group will post $1.16 EPS for the current fiscal year.
In other news, VP John W. Turner sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $21.05, for a total transaction of $105,250.00. Following the sale, the vice president now owns 10,667 shares of the company’s stock, valued at approximately $224,540.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth A. Goldman sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $20.70, for a total transaction of $828,000.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $414,000. The disclosure for this sale can be found here. Corporate insiders own 42.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in TNET. Vanguard Group Inc. increased its stake in shares of TriNet Group by 2.7% in the second quarter. Vanguard Group Inc. now owns 3,410,248 shares of the company’s stock worth $70,898,000 after buying an additional 89,755 shares during the last quarter. River Road Asset Management LLC increased its stake in shares of TriNet Group by 7.7% in the second quarter. River Road Asset Management LLC now owns 1,321,085 shares of the company’s stock worth $27,465,000 after buying an additional 93,996 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of TriNet Group by 3.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,034,032 shares of the company’s stock worth $21,498,000 after buying an additional 31,107 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of TriNet Group by 2.9% in the second quarter. BlackRock Fund Advisors now owns 1,011,040 shares of the company’s stock worth $21,020,000 after buying an additional 28,023 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of TriNet Group by 2.4% in the second quarter. Royal Bank of Canada now owns 973,288 shares of the company’s stock worth $20,234,000 after buying an additional 23,104 shares during the last quarter. 78.91% of the stock is currently owned by hedge funds and other institutional investors.
About TriNet Group
TriNet Group, Inc (TriNet) is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s human resource solutions include offerings, such as multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; federal, state and local labor, employment and benefit law compliance; risk mitigation, including employment practices claims management; expense and time management, and human capital consulting.
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