Wayne B. Lowell Sells 20,000 Shares of TriNet Group, Inc. (TNET) Stock
TriNet Group, Inc. (NYSE:TNET) Director Wayne B. Lowell sold 20,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $39.15, for a total value of $783,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
TriNet Group, Inc. (NYSE TNET) traded down 0.08% during midday trading on Monday, reaching $39.68. The company had a trading volume of 278,923 shares. TriNet Group, Inc. has a one year low of $17.78 and a one year high of $41.58. The stock’s 50 day moving average is $33.08 and its 200 day moving average is $29.64. The company has a market capitalization of $2.75 billion, a PE ratio of 26.67 and a beta of 2.94.
TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.18. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The company had revenue of $201.01 million during the quarter, compared to the consensus estimate of $168.27 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts forecast that TriNet Group, Inc. will post $1.47 earnings per share for the current fiscal year.
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A number of brokerages have recently issued reports on TNET. Stifel Nicolaus reissued a “buy” rating and issued a $44.00 target price (up from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Zacks Investment Research raised TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 target price for the company in a report on Saturday. BidaskClub cut TriNet Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Deutsche Bank AG increased their target price on TriNet Group from $30.00 to $31.00 and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $36.25.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in shares of TriNet Group during the first quarter valued at approximately $153,000. Globeflex Capital L P bought a new stake in shares of TriNet Group during the first quarter valued at approximately $409,000. TimesSquare Capital Management LLC increased its stake in shares of TriNet Group by 3.8% in the first quarter. TimesSquare Capital Management LLC now owns 1,583,160 shares of the business services provider’s stock valued at $45,753,000 after buying an additional 57,985 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of TriNet Group during the first quarter valued at approximately $434,000. Finally, Wellington Management Group LLP increased its stake in shares of TriNet Group by 9.4% in the first quarter. Wellington Management Group LLP now owns 4,970,312 shares of the business services provider’s stock valued at $143,643,000 after buying an additional 428,077 shares during the last quarter. Institutional investors and hedge funds own 52.96% of the company’s stock.
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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