TriNet Group Inc (NYSE:TNET) has been given a consensus rating of “Hold” by the six research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $64.00.
TNET has been the topic of a number of analyst reports. Zacks Investment Research cut shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. William Blair restated an “outperform” rating on shares of TriNet Group in a research note on Friday, October 25th. Credit Suisse Group set a $52.00 price target on shares of TriNet Group and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, ValuEngine cut shares of TriNet Group from a “sell” rating to a “strong sell” rating in a research note on Monday, November 4th.
In related news, Director Martin Babinec sold 23,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $58.00, for a total value of $1,363,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Burton M. Goldfield sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $51.42, for a total transaction of $308,520.00. Following the completion of the transaction, the chief executive officer now directly owns 223,222 shares in the company, valued at $11,478,075.24. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 548,545 shares of company stock worth $28,647,721 and have sold 134,113 shares worth $7,494,885. Corporate insiders own 37.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. raised its stake in TriNet Group by 366.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,400 shares of the business services provider’s stock worth $87,000 after buying an additional 1,100 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of TriNet Group by 143.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,949 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 1,149 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of TriNet Group in the 2nd quarter valued at approximately $218,000. Fox Run Management L.L.C. acquired a new position in shares of TriNet Group in the 3rd quarter valued at approximately $226,000. Finally, Bank of Montreal Can bought a new stake in TriNet Group during the 2nd quarter worth approximately $254,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.
Shares of TNET traded up $0.50 during trading hours on Thursday, reaching $57.88. 5,981 shares of the company traded hands, compared to its average volume of 258,707. The stock’s fifty day moving average is $55.88 and its 200 day moving average is $61.74. The stock has a market cap of $3.94 billion, a P/E ratio of 22.53 and a beta of 1.78. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.23 and a current ratio of 1.23. TriNet Group has a 1-year low of $43.55 and a 1-year high of $76.92.
TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.13. TriNet Group had a net margin of 5.14% and a return on equity of 44.11%. The firm had revenue of $221.00 million for the quarter, compared to the consensus estimate of $226.76 million. During the same quarter in the previous year, the company earned $0.75 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that TriNet Group will post 2.92 EPS for the current year.
TriNet Group Company Profile
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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