TriNet Group Inc (TNET) Receives Consensus Recommendation of “Hold” from Brokerages
TriNet Group Inc (NYSE:TNET) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $26.00.
A number of analysts have recently weighed in on TNET shares. Stifel Nicolaus reissued a “buy” rating on shares of TriNet Group in a research report on Friday, April 14th. Deutsche Bank AG raised their price target on shares of TriNet Group from $30.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, May 3rd. Zacks Investment Research raised shares of TriNet Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 1st. Finally, TheStreet raised shares of TriNet Group from a “c” rating to a “b” rating in a research report on Monday, March 27th.
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In other news, insider William Porter sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $28.47, for a total transaction of $939,510.00. Following the completion of the sale, the insider now owns 495,849 shares of the company’s stock, valued at $14,116,821.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wayne B. Lowell sold 46,016 shares of TriNet Group stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $29.24, for a total transaction of $1,345,507.84. The disclosure for this sale can be found here. Insiders have sold 298,886 shares of company stock valued at $8,849,224 in the last three months. Corporate insiders own 42.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in TriNet Group by 6.6% in the fourth quarter. State Street Corp now owns 765,028 shares of the business services provider’s stock worth $19,598,000 after buying an additional 47,378 shares in the last quarter. Allianz Asset Management AG increased its position in TriNet Group by 196.3% in the fourth quarter. Allianz Asset Management AG now owns 93,270 shares of the business services provider’s stock worth $2,390,000 after buying an additional 61,790 shares in the last quarter. Fiera Capital Corp acquired a new position in TriNet Group during the fourth quarter worth approximately $9,312,000. Dimensional Fund Advisors LP increased its position in TriNet Group by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 906,647 shares of the business services provider’s stock worth $23,229,000 after buying an additional 74,584 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in TriNet Group by 1,275.3% in the fourth quarter. Macquarie Group Ltd. now owns 687,870 shares of the business services provider’s stock worth $17,623,000 after buying an additional 637,853 shares in the last quarter. 78.15% of the stock is owned by hedge funds and other institutional investors.
Shares of TriNet Group (NYSE:TNET) traded up 0.03% during mid-day trading on Friday, hitting $30.63. 201,246 shares of the stock traded hands. The stock has a market cap of $2.10 billion, a PE ratio of 27.90 and a beta of 3.01. TriNet Group has a one year low of $17.78 and a one year high of $33.49. The stock has a 50-day moving average of $29.53 and a 200 day moving average of $26.53.
TriNet Group (NYSE:TNET) last released its quarterly earnings results on Tuesday, February 28th. The business services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. TriNet Group had a net margin of 1.77% and a return on equity of 270.14%. The business had revenue of $811.10 million during the quarter, compared to the consensus estimate of $168.19 million. During the same quarter last year, the company earned $0.31 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts predict that TriNet Group will post $1.42 EPS for the current fiscal year.
About TriNet Group
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers’ compensation insurance and claims management, employment and benefit law compliance, and other services.
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