Zacks Investment Research Lowers TriNet Group, Inc. (TNET) to Sell
TriNet Group, Inc. (NYSE:TNET) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
Several other research firms have also recently weighed in on TNET. Stifel Nicolaus reissued a “buy” rating and set a $44.00 price objective (up previously from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. BidaskClub downgraded TriNet Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. Morgan Stanley lowered TriNet Group from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $27.00 to $31.00 in a report on Tuesday, August 22nd. Finally, J P Morgan Chase & Co lowered TriNet Group from a “neutral” rating to an “underweight” rating and upped their price target for the stock from $33.00 to $36.00 in a report on Thursday, August 17th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.40.
TriNet Group (NYSE TNET) traded up 0.60% during midday trading on Wednesday, reaching $35.09. 280,215 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $34.97 and its 200-day moving average price is $32.52. TriNet Group has a 1-year low of $17.78 and a 1-year high of $41.58. The company has a market capitalization of $2.43 billion, a PE ratio of 23.58 and a beta of 2.89.
TriNet Group (NYSE:TNET) last posted its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.18. The business had revenue of $201.01 million for the quarter, compared to analyst estimates of $168.27 million. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. TriNet Group’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. Equities analysts expect that TriNet Group will post $1.49 EPS for the current year.
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In other news, Director Wayne B. Lowell sold 20,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Martin Babinec sold 111,855 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $37.75, for a total value of $4,222,526.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 388,487 shares of company stock worth $14,115,445. 41.80% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new position in TriNet Group during the first quarter worth $105,000. Envestnet Asset Management Inc. lifted its holdings in shares of TriNet Group by 13.3% during the first quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 483 shares during the period. Victory Capital Management Inc. boosted its stake in shares of TriNet Group by 18.6% in the 1st quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 723 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of TriNet Group in the 1st quarter valued at $153,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of TriNet Group by 596.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 4,886 shares in the last quarter. 54.58% of the stock is currently owned by institutional investors and hedge funds.
TriNet Group Company Profile
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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