TriNet Group, Inc. (TNET) Downgraded to “Hold” at BidaskClub
TriNet Group, Inc. (NYSE:TNET) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.
Several other equities analysts have also weighed in on the company. Morgan Stanley lowered TriNet Group from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $27.00 to $31.00 in a report on Tuesday, August 22nd. J P Morgan Chase & Co lowered TriNet Group from a “neutral” rating to an “underweight” rating and raised their target price for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a report on Saturday, August 5th. Finally, Stifel Nicolaus restated a “buy” rating and set a $44.00 target price (up from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $37.40.
Shares of TriNet Group (NYSE TNET) traded up 0.27% during mid-day trading on Thursday, hitting $33.95. The company had a trading volume of 26,995 shares. The firm’s 50-day moving average price is $36.30 and its 200 day moving average price is $31.95. The company has a market capitalization of $2.36 billion, a P/E ratio of 22.82 and a beta of 2.94. TriNet Group has a one year low of $17.78 and a one year high of $41.58.
TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Monday, July 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.18. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The business had revenue of $201.01 million during the quarter, compared to analyst estimates of $168.27 million. During the same period last year, the company earned $0.27 earnings per share. TriNet Group’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that TriNet Group will post $1.49 earnings per share for the current fiscal year.
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In other TriNet Group news, Director H Raymond Bingham sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $39.53, for a total transaction of $197,650.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $197,650. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Burton M. Goldfield sold 13,317 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $32.91, for a total value of $438,262.47. Following the transaction, the chief executive officer now owns 31,225 shares in the company, valued at $1,027,614.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 467,762 shares of company stock worth $16,662,060. Corporate insiders own 42.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of TNET. Cramer Rosenthal Mcglynn LLC bought a new position in shares of TriNet Group in the second quarter worth about $18,537,000. 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 worth $143,643,000 after purchasing an additional 428,077 shares during the period. Vanguard Group Inc. increased its stake in shares of TriNet Group by 11.0% in the first quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock worth $122,217,000 after purchasing an additional 418,005 shares during the period. FMR LLC increased its stake in shares of TriNet Group by 58.7% in the second quarter. FMR LLC now owns 906,982 shares of the business services provider’s stock worth $29,695,000 after purchasing an additional 335,381 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of TriNet Group in the first quarter worth about $6,194,000. Institutional investors and hedge funds own 54.58% 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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