TriNet Group Inc. (TNET) Given Average Recommendation of “Hold” by Brokerages
Shares of TriNet Group Inc. (NYSE:TNET) have been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.00.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of TriNet Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 11th. Deutsche Bank AG boosted their price target 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. boosted their price target 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. Jefferies Group boosted their price target 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. Finally, Morgan Stanley downgraded shares of TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price target on the stock. in a research report on Thursday, August 4th. They noted that the move was a valuation call.
Shares of TriNet Group (NYSE:TNET) traded down 0.8964% during trading on Monday, hitting $19.8901. 127,106 shares of the company traded hands. TriNet Group has a one year low of $11.10 and a one year high of $22.97. The firm has a 50 day moving average price of $21.04 and a 200-day moving average price of $19.77. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 34.8949 and a beta of 2.73.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/trinet-group-inc-tnet-given-average-recommendation-of-hold-by-brokerages.html
TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, August 1st. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a net margin of 1.43% and a return on equity of 439.36%. The company had revenue of $745.80 million for the quarter, compared to the consensus estimate of $148.11 million. During the same period in the previous year, the firm earned $0.14 EPS. TriNet Group’s revenue was up 16.5% on a year-over-year basis. Analysts predict that TriNet Group will post $1.16 EPS for the current year.
In other news, Director H Raymond Bingham sold 20,000 shares of TriNet Group stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $21.10, for a total value of $422,000.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $422,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John W. Turner sold 5,000 shares of TriNet Group stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $20.90, for a total transaction of $104,500.00. Following the completion of the transaction, the vice president now directly owns 4,167 shares in the company, valued at $87,090.30. The disclosure for this sale can be found here. 42.40% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in TriNet Group by 2.7% in the second quarter. Vanguard Group Inc. now owns 3,410,248 shares of the company’s stock valued at $70,898,000 after buying an additional 89,755 shares in the last quarter. River Road Asset Management LLC boosted its stake in 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 valued at $27,465,000 after buying an additional 93,996 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in 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 valued at $21,498,000 after buying an additional 31,107 shares in the last quarter. BlackRock Fund Advisors boosted its stake in TriNet Group by 2.9% in the second quarter. BlackRock Fund Advisors now owns 1,011,040 shares of the company’s stock valued at $21,020,000 after buying an additional 28,023 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in TriNet Group by 2.4% in the second quarter. Royal Bank of Canada now owns 973,288 shares of the company’s stock valued at $20,234,000 after buying an additional 23,104 shares in the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.
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.
Receive News & Ratings for TriNet Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.