TriNet Group (TNET) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of TriNet Group (NYSE:TNET) from a strong-buy rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “TriNet Group, Inc. is a provider of a comprehensive human resources solution for small to medium-sized businesses. It offers payroll, tax administration, risk protection, performance management, compensation consulting, and employee benefit plans. The Company serves banking and financial services, biotech and life sciences, technology, non-profits, professional services, venture capital, and advertising and marketing industries. TriNet Group, Inc. is headquartered in San Leandro, California. “
A number of other brokerages also recently weighed in on TNET. Morgan Stanley lifted their target price on shares of TriNet Group from $31.00 to $32.00 and gave the stock an underweight rating in a research note on Friday, November 3rd. BidaskClub raised shares of TriNet Group from a hold rating to a buy rating in a research note on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $38.00.
Shares of TriNet Group (NYSE:TNET) traded down $0.73 during midday trading on Friday, reaching $43.65. 386,100 shares of the company were exchanged, compared to its average volume of 298,320. TriNet Group has a fifty-two week low of $24.09 and a fifty-two week high of $45.25. The company has a market capitalization of $3,060.00, a P/E ratio of 23.10 and a beta of 3.01. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.18 and a quick ratio of 1.18.
TriNet Group (NYSE:TNET) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.30. TriNet Group had a net margin of 4.15% and a return on equity of 156.96%. The business had revenue of $205.90 million during the quarter, compared to the consensus estimate of $174.89 million. During the same quarter last year, the firm earned $0.29 earnings per share. TriNet Group’s quarterly revenue was up 27.9% on a year-over-year basis. analysts anticipate that TriNet Group will post 1.77 earnings per share for the current year.
In other TriNet Group news, CEO Burton M. Goldfield sold 4,292 shares of TriNet Group stock in a transaction on Friday, October 27th. The shares were sold at an average price of $35.05, for a total value of $150,434.60. Following the completion of the sale, the chief executive officer now directly owns 29,282 shares of the company’s stock, valued at $1,026,334.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael P. Murphy sold 631 shares of TriNet Group stock in a transaction on Friday, November 17th. The shares were sold at an average price of $42.40, for a total transaction of $26,754.40. Following the completion of the sale, the insider now directly owns 12,553 shares of the company’s stock, valued at $532,247.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,163 shares of company stock valued at $5,925,247. Insiders own 41.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of TNET. Russell Investments Group Ltd. increased its stake in TriNet Group by 14.0% in the second quarter. Russell Investments Group Ltd. now owns 35,587 shares of the business services provider’s stock valued at $1,165,000 after purchasing an additional 4,368 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of TriNet Group during the second quarter worth about $194,000. BNP Paribas Arbitrage SA increased its position in shares of TriNet Group by 596.6% during the second quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock worth $187,000 after acquiring an additional 4,886 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of TriNet Group by 17.7% during the second quarter. Victory Capital Management Inc. now owns 5,417 shares of the business services provider’s stock worth $177,000 after acquiring an additional 813 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of TriNet Group by 61.3% during the second quarter. Prudential Financial Inc. now owns 24,552 shares of the business services provider’s stock worth $804,000 after acquiring an additional 9,332 shares in the last quarter. 56.52% of the stock is owned by hedge funds and other institutional investors.
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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