TriNet Group, Inc. (TNET) Upgraded to Buy by BidaskClub
TriNet Group, Inc. (NYSE:TNET) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.
TNET has been the topic of several other reports. J P Morgan Chase & Co downgraded shares of TriNet Group from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $33.00 to $36.00 in a research report on Thursday, August 17th. Zacks Investment Research downgraded shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 21st. Stifel Nicolaus reissued a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Finally, Morgan Stanley cut shares of TriNet Group from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $27.00 to $31.00 in a research note on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $37.60.
TriNet Group (NYSE TNET) traded up $0.03 during midday trading on Tuesday, hitting $40.96. 583,073 shares of the company were exchanged, compared to its average volume of 363,946. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $2,850.00, a P/E ratio of 24.85 and a beta of 2.88. TriNet Group has a 1 year low of $19.81 and a 1 year high of $43.38.
TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.30. TriNet Group had a net margin of 4.15% and a return on equity of 209.75%. The company had revenue of $205.90 million for the quarter, compared to the consensus estimate of $174.89 million. During the same period last year, the firm posted $0.29 EPS. TriNet Group’s revenue for the quarter was up 27.9% on a year-over-year basis. equities analysts expect that TriNet Group will post 1.27 earnings per share for the current year.
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In other TriNet Group news, CEO Burton M. Goldfield sold 2,694 shares of TriNet Group stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $33.94, for a total transaction of $91,434.36. Following the completion of the transaction, the chief executive officer now owns 31,225 shares in the company, valued at $1,059,776.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Babinec sold 111,855 shares of TriNet Group stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $37.75, for a total transaction of $4,222,526.25. The disclosure for this sale can be found here. Insiders sold 332,983 shares of company stock valued at $12,205,957 in the last quarter. Company insiders own 41.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in TriNet Group during the third quarter worth approximately $819,000. Russell Investments Group Ltd. grew its stake in TriNet Group by 644.8% during the third quarter. Russell Investments Group Ltd. now owns 265,053 shares of the business services provider’s stock worth $8,911,000 after buying an additional 229,466 shares during the period. Bank of New York Mellon Corp grew its stake in TriNet Group by 8.2% during the third quarter. Bank of New York Mellon Corp now owns 213,960 shares of the business services provider’s stock worth $7,193,000 after buying an additional 16,135 shares during the period. New York State Common Retirement Fund grew its stake in TriNet Group by 4.0% during the third quarter. New York State Common Retirement Fund now owns 70,987 shares of the business services provider’s stock worth $2,387,000 after buying an additional 2,700 shares during the period. Finally, Sei Investments Co. grew its stake in TriNet Group by 112.0% during the third quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock worth $266,000 after buying an additional 4,181 shares during the period. Institutional investors own 54.65% of the company’s stock.
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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