TriNet Group, Inc. (TNET) CEO Sells $150,434.60 in Stock
TriNet Group, Inc. (NYSE:TNET) CEO Burton M. Goldfield sold 4,292 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $35.05, for a total transaction of $150,434.60. Following the completion of the sale, the chief executive officer now directly owns 29,282 shares of the company’s stock, valued at approximately $1,026,334.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of TriNet Group, Inc. (NYSE TNET) traded down 1.89% during mid-day trading on Monday, hitting $34.23. 152,776 shares of the stock traded hands. The stock has a 50 day moving average price of $34.36 and a 200-day moving average price of $33.22. The company has a market cap of $2.38 billion, a P/E ratio of 23.00 and a beta of 2.90. TriNet Group, Inc. has a one year low of $17.78 and a one year high of $41.58.
TriNet Group (NYSE:TNET) last issued its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analysts’ expectations of $168.27 million. During the same quarter in the previous year, the business earned $0.27 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts forecast that TriNet Group, Inc. will post $1.49 earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the company. New York State Common Retirement Fund grew its holdings in shares of TriNet Group by 25.0% during the 2nd quarter. New York State Common Retirement Fund now owns 68,287 shares of the business services provider’s stock worth $2,236,000 after purchasing an additional 13,651 shares during the period. Chicago Equity Partners LLC grew its holdings in shares of TriNet Group by 41.8% during the 2nd quarter. Chicago Equity Partners LLC now owns 108,150 shares of the business services provider’s stock worth $3,541,000 after purchasing an additional 31,900 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of TriNet Group by 14.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 35,587 shares of the business services provider’s stock worth $1,165,000 after purchasing an additional 4,368 shares during the period. Bank of America Corp DE grew its holdings in shares of TriNet Group by 21.2% during the 1st quarter. Bank of America Corp DE now owns 213,234 shares of the business services provider’s stock worth $6,162,000 after purchasing an additional 37,295 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of TriNet Group by 61.3% during the 2nd quarter. Prudential Financial Inc. now owns 24,552 shares of the business services provider’s stock worth $804,000 after purchasing an additional 9,332 shares during the period. Institutional investors and hedge funds own 54.68% of the company’s stock.
Several brokerages have weighed in on TNET. J P Morgan Chase & Co lowered shares of TriNet Group from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $33.00 to $36.00 in a research note on Thursday, August 17th. BidaskClub lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley lowered shares of TriNet Group from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $27.00 to $31.00 in a research note on Tuesday, August 22nd. Zacks Investment Research lowered shares of TriNet Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 target price (up previously from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Three equities research 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 company presently has an average rating of “Hold” and a consensus price target of $37.40.
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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