TriNet Group Inc. (TNET) Given Consensus Recommendation of “Hold” by Brokerages
TriNet Group Inc. (NYSE:TNET) has received an average recommendation of “Hold” from the six research firms that are presently covering the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $22.33.
Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded TriNet Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 11th. Morgan Stanley downgraded TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price target for the company. in a research note on Thursday, August 4th. They noted that the move was a valuation call. Deutsche Bank AG set a $25.00 price target on TriNet Group and gave the stock a “buy” rating in a research note on Tuesday, October 18th. Jefferies Group increased their price target on TriNet Group from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. increased their price target on TriNet Group from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd.
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In other TriNet Group news, VP John W. Turner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $20.90, for a total value of $104,500.00. Following the sale, the vice president now owns 4,167 shares of the company’s stock, valued at approximately $87,090.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Porter sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the sale, the insider now directly owns 544,851 shares in the company, valued at approximately $11,986,722. The disclosure for this sale can be found here. 42.40% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in TNET. Teacher Retirement System of Texas boosted its stake 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 valued at $123,000 after buying an additional 1,127 shares during the last quarter. Great West Life Assurance Co. Can boosted 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 in the last quarter. Principal Financial Group Inc. purchased a new position in shares of TriNet Group during the second quarter worth $205,000. AMP Capital Investors Ltd purchased a new position in shares of TriNet Group during the third quarter worth $210,000. Finally, Sei Investments Co. boosted 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 in the last quarter. 80.73% of the stock is currently owned by hedge funds and other institutional investors.
TriNet Group (NYSE:TNET) opened at 25.18 on Tuesday. The firm’s 50-day moving average price is $20.96 and its 200 day moving average price is $20.86. The firm has a market cap of $1.73 billion, a P/E ratio of 34.45 and a beta of 2.79. TriNet Group has a 52 week low of $11.10 and a 52 week high of $25.22.
TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.29 earnings per share 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 return on equity of 270.14% and a net margin of 1.77%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. Equities analysts forecast that TriNet Group will post $1.19 earnings per share for the current fiscal year.
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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