Zacks Investment Research Downgrades TriNet Group Inc. (TNET) to Strong Sell
TriNet Group Inc. (NYSE:TNET) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors 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 subject of several other reports. Deutsche Bank AG increased their price objective on TriNet Group from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Piper Jaffray Cos. increased their price objective on TriNet Group from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 2nd. Morgan Stanley lowered TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective for the company. in a report on Thursday, August 4th. They noted that the move was a valuation call. Finally, Jefferies Group increased their price objective on TriNet Group from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $22.33.
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TriNet Group (NYSE:TNET) traded down 2.41% during trading on Tuesday, hitting $20.61. The stock had a trading volume of 75,271 shares. The stock has a market capitalization of $1.45 billion, a P/E ratio of 36.16 and a beta of 2.73. The company has a 50-day moving average of $21.14 and a 200-day moving average of $19.71. TriNet Group has a 52 week low of $11.10 and a 52 week high of $22.97.
TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The company earned $745.80 million during the quarter, compared to the consensus estimate of $148.11 million. TriNet Group had a return on equity of 439.36% and a net margin of 1.43%. TriNet Group’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. On average, equities analysts expect that TriNet Group will post $1.16 earnings per share for the current fiscal year.
In related news, VP John W. Turner sold 5,000 shares of TriNet Group stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $21.85, for a total transaction of $109,250.00. Following the completion of the sale, the vice president now owns 9,167 shares of the company’s stock, valued at $200,298.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Porter sold 6,000 shares of TriNet Group stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $22.00, for a total value of $132,000.00. Following the sale, the insider now directly owns 544,851 shares of the company’s stock, valued at approximately $11,986,722. The disclosure for this sale can be found here. 42.40% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of TNET. Teacher Retirement System of Texas raised its stake in TriNet Group by 23.6% in the second quarter. Teacher Retirement System of Texas now owns 5,895 shares of the company’s stock valued at $123,000 after buying an additional 1,127 shares in the last quarter. Legal & General Group Plc raised its stake in TriNet Group by 31.9% in the first quarter. Legal & General Group Plc now owns 9,275 shares of the company’s stock valued at $131,000 after buying an additional 2,245 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in TriNet Group during the second quarter valued at about $205,000. Menta Capital LLC acquired a new stake in TriNet Group during the first quarter valued at about $250,000. Finally, Sterling Ridge Capital Management LP acquired a new stake in TriNet Group during the first quarter valued at about $264,000. 78.91% of the stock is owned by institutional investors.
TriNet Group Company Profile
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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