TriNet Group Inc (NYSE:TNET) CEO Burton M. Goldfield sold 23,486 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $60.99, for a total transaction of $1,432,411.14. Following the completion of the transaction, the chief executive officer now owns 336,809 shares of the company’s stock, valued at approximately $20,541,980.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
NYSE TNET traded down $1.53 on Friday, hitting $61.10. The stock had a trading volume of 257,300 shares, compared to its average volume of 347,949. TriNet Group Inc has a one year low of $38.74 and a one year high of $65.09. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 23.77 and a beta of 2.12.
TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Monday, April 29th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.01). The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $233.65 million. TriNet Group had a net margin of 5.62% and a return on equity of 54.21%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $0.80 earnings per share. As a group, equities research analysts expect that TriNet Group Inc will post 2.92 earnings per share for the current fiscal year.
Several research analysts have commented on TNET shares. ValuEngine upgraded shares of TriNet Group from a “hold” rating to a “buy” rating in a research report on Friday, February 15th. Zacks Investment Research upgraded shares of TriNet Group from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday, February 7th. JPMorgan Chase & Co. upgraded shares of TriNet Group from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $60.00 in a research report on Friday, February 15th. Finally, William Blair upgraded shares of TriNet Group from a “market perform” rating to an “outperform” rating and set a $46.80 target price for the company in a research report on Tuesday, February 12th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.63.
Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its holdings in shares of TriNet Group by 1,385.3% in the fourth quarter. Advisory Services Network LLC now owns 1,411 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 1,316 shares in the last quarter. Hilton Capital Management LLC bought a new position in shares of TriNet Group in the first quarter valued at approximately $79,000. Quantamental Technologies LLC bought a new position in shares of TriNet Group in the first quarter valued at approximately $100,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TriNet Group by 21.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,039 shares of the business services provider’s stock valued at $127,000 after acquiring an additional 546 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in shares of TriNet Group in the first quarter valued at approximately $130,000. Institutional investors and hedge funds own 87.58% of the company’s stock.
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About TriNet Group
TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. The company offers 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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