TriNet Group Inc. (TNET) VP John W. Turner Sells 5,000 Shares of Stock
TriNet Group Inc. (NYSE:TNET) VP John W. Turner sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $21.85, for a total transaction of $109,250.00. Following the completion of the transaction, the vice president now directly owns 9,167 shares of the company’s stock, valued at approximately $200,298.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of TriNet Group Inc. (NYSE:TNET) opened at 20.99 on Monday. The firm has a market cap of $1.47 billion, a PE ratio of 36.82 and a beta of 2.73. TriNet Group Inc. has a 1-year low of $11.10 and a 1-year high of $22.97. The stock’s 50 day moving average is $21.14 and its 200-day moving average is $19.57.
TriNet Group (NYSE:TNET) last released its earnings results on Monday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. TriNet Group had a net margin of 1.43% and a return on equity of 439.36%. The company had revenue of $745.80 million for the quarter, compared to the consensus estimate of $148.11 million. During the same quarter in the previous year, the company earned $0.14 EPS. TriNet Group’s quarterly revenue was up 16.5% compared to the same quarter last year. Analysts expect that TriNet Group Inc. will post $1.16 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TNET. Teacher Retirement System of Texas increased its position in TriNet Group by 23.6% in the second quarter. Teacher Retirement System of Texas now owns 5,895 shares of the company’s stock worth $123,000 after buying an additional 1,127 shares during the last quarter. Legal & General Group Plc increased its position in TriNet Group by 31.9% in the first quarter. Legal & General Group Plc now owns 9,275 shares of the company’s stock valued at $131,000 after buying an additional 2,245 shares during the last quarter. Principal Financial Group Inc. acquired a new position in TriNet Group during the second quarter valued at $205,000. Menta Capital LLC acquired a new position in TriNet Group during the first quarter valued at $250,000. Finally, Sterling Ridge Capital Management LP acquired a new position in TriNet Group during the first quarter valued at $264,000. Institutional investors own 78.91% of the company’s stock.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of TriNet Group from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research report on Saturday, August 6th. Jefferies Group lifted their price objective on shares of TriNet Group from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 5th. Deutsche Bank AG lifted their price objective on shares of TriNet Group from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Piper Jaffray Cos. lifted their price objective on shares of TriNet Group from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. Finally, Morgan Stanley downgraded shares of TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective for the company. in a research report on Thursday, August 4th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.33.
About TriNet Group
TriNet Group, Inc (TriNet) is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s human resource solutions include offerings, such as multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; federal, state and local labor, employment and benefit law compliance; risk mitigation, including employment practices claims management; expense and time management, and human capital consulting.
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