TriNet Group, Inc. (TNET) Receives $38.00 Average Target Price from Brokerages
Shares of TriNet Group, Inc. (NYSE:TNET) have been assigned an average recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $38.00.
TNET has been the subject of a number of research analyst reports. J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and raised their target price for the company from $33.00 to $36.00 in a research note on Thursday, August 17th. Morgan Stanley cut TriNet Group from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $27.00 to $31.00 in a research note on Tuesday, August 22nd. BidaskClub cut TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, Zacks Investment Research cut TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 21st.
In other news, Director Martin Babinec sold 36,500 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $44.21, for a total value of $1,613,665.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Burton M. Goldfield sold 4,492 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $35.05, for a total value of $157,444.60. The disclosure for this sale can be found here. Insiders have sold 168,040 shares of company stock valued at $6,673,294 in the last quarter. 42.40% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of TNET. Cramer Rosenthal Mcglynn LLC purchased a new position in shares of TriNet Group in the second quarter worth $18,537,000. Vanguard Group Inc. raised its stake in shares of TriNet Group by 8.1% in the second quarter. Vanguard Group Inc. now owns 4,571,207 shares of the business services provider’s stock worth $149,661,000 after purchasing an additional 342,250 shares during the last quarter. FMR LLC raised its stake in shares of TriNet Group by 58.7% in the second quarter. FMR LLC now owns 906,982 shares of the business services provider’s stock worth $29,695,000 after purchasing an additional 335,381 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of TriNet Group by 644.8% in the third quarter. Russell Investments Group Ltd. now owns 265,053 shares of the business services provider’s stock worth $8,911,000 after purchasing an additional 229,466 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new position in shares of TriNet Group in the second quarter worth $5,218,000. Hedge funds and other institutional investors own 56.52% of the company’s stock.
TriNet Group (NYSE TNET) traded down $0.10 on Thursday, hitting $44.05. The stock had a trading volume of 251,916 shares, compared to its average volume of 405,070. The stock has a market cap of $3,060.81, a PE ratio of 26.70 and a beta of 3.02. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.00. TriNet Group has a 52 week low of $23.91 and a 52 week high of $45.11.
TriNet Group (NYSE:TNET) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.30. The company had revenue of $205.90 million during the quarter, compared to analysts’ expectations of $174.89 million. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. sell-side analysts predict that TriNet Group will post 1.77 EPS for the current fiscal year.
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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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