Brokerages forecast that TriNet Group Inc (NYSE:TNET) will report earnings of $0.64 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for TriNet Group’s earnings. The lowest EPS estimate is $0.56 and the highest is $0.70. TriNet Group reported earnings of $0.45 per share in the same quarter last year, which indicates a positive year over year growth rate of 42.2%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, May 1st.
On average, analysts expect that TriNet Group will report full-year earnings of $2.59 per share for the current fiscal year, with EPS estimates ranging from $2.56 to $2.62. For the next year, analysts forecast that the business will report earnings of $2.87 per share, with EPS estimates ranging from $2.73 to $3.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover TriNet Group.
Several analysts have commented on the stock. Zacks Investment Research cut shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 5th. Stifel Nicolaus boosted their price target on shares of TriNet Group to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. TriNet Group currently has an average rating of “Hold” and an average price target of $41.40.
TriNet Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 27th that authorizes the company to repurchase $120.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, SVP Brady Mickelsen sold 6,393 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $41.11, for a total transaction of $262,816.23. Following the sale, the senior vice president now directly owns 35,036 shares in the company, valued at approximately $1,440,329.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Burton M. Goldfield sold 17,809 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $43.52, for a total transaction of $775,047.68. Following the sale, the chief executive officer now owns 32,234 shares in the company, valued at $1,402,823.68. The disclosure for this sale can be found here. Insiders have sold a total of 234,273 shares of company stock worth $10,327,173 over the last 90 days. Corporate insiders own 41.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TNET. Suntrust Banks Inc. purchased a new stake in shares of TriNet Group during the 4th quarter valued at about $218,000. Pitcairn Co. bought a new position in TriNet Group during the 4th quarter valued at about $230,000. Intrust Bank NA bought a new position in TriNet Group during the 4th quarter valued at about $231,000. Amalgamated Bank bought a new position in TriNet Group during the 4th quarter valued at about $250,000. Finally, Sei Investments Co. grew its holdings in TriNet Group by 112.0% during the 3rd quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock valued at $266,000 after purchasing an additional 4,181 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.
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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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