TriNet Group Inc. (TNET) Upgraded at Zacks Investment Research
TriNet Group Inc. (NYSE:TNET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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 research analysts have also recently weighed in on TNET. Deutsche Bank AG set a $25.00 target price on shares of TriNet Group and gave the company a “buy” rating in a research note on Tuesday, October 18th. Jefferies Group boosted their target price on shares of TriNet Group from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 5th. Morgan Stanley cut shares of TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 target price on the stock. in a research note on Thursday, August 4th. They noted that the move was a valuation call. Finally, Piper Jaffray Cos. boosted their target price on shares of TriNet Group from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.33.
TriNet Group (NYSE:TNET) opened at 20.73 on Thursday. TriNet Group has a one year low of $11.10 and a one year high of $22.97. The stock’s 50 day moving average is $20.32 and its 200 day moving average is $20.36. The company has a market capitalization of $1.43 billion, a PE ratio of 28.36 and a beta of 2.79.
TriNet Group (NYSE:TNET) last posted its earnings results on Tuesday, November 1st. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The company earned $770.50 million during the quarter, compared to the consensus estimate of $152.36 million. TriNet Group had a net margin of 1.77% and a return on equity of 270.14%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, analysts anticipate that TriNet Group will post $1.19 earnings per share for the current fiscal year.
In related news, Director H Raymond Bingham sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $21.10, for a total transaction of $422,000.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $422,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John W. Turner sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $21.85, for a total transaction of $109,250.00. Following the sale, the vice president now directly owns 9,167 shares in the company, valued at approximately $200,298.95. The disclosure for this sale can be found here. Corporate insiders own 42.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TNET. Teacher Retirement System of Texas raised its position in shares of 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. Great West Life Assurance Co. Can raised its position in shares of TriNet Group by 143.8% in the third quarter. Great West Life Assurance Co. Can now owns 7,315 shares of the company’s stock worth $158,000 after buying an additional 4,315 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of TriNet Group during the second quarter worth approximately $205,000. Sei Investments Co. raised its position in shares of TriNet Group by 111.7% in the third quarter. Sei Investments Co. now owns 10,636 shares of the company’s stock worth $230,000 after buying an additional 5,611 shares during the last quarter. Finally, Sterling Ridge Capital Management LP bought a new position in shares of TriNet Group during the first quarter worth approximately $264,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.
TriNet Group Company Profile
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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