TriNet Group, Inc. (TNET) Downgraded to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of TriNet Group, Inc. (NYSE:TNET) from a hold rating to a sell rating in a research note released on Wednesday.
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. “
TNET has been the topic of a number of other reports. BidaskClub cut TriNet Group from a buy rating to a hold rating in a research note on Thursday, September 14th. J P Morgan Chase & Co cut TriNet Group from a neutral rating to an underweight rating and upped their price target for the stock from $33.00 to $36.00 in a research note on Thursday, August 17th. Stifel Nicolaus restated a buy rating and set a $44.00 price target (up from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Finally, Morgan Stanley cut TriNet Group from an equal weight rating to an underweight rating and upped their price target for the stock from $27.00 to $31.00 in a research note on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $37.40.
Shares of TriNet Group (TNET) traded down 0.26% during midday trading on Wednesday, reaching $34.93. The company’s stock had a trading volume of 213,330 shares. TriNet Group has a one year low of $17.78 and a one year high of $41.58. The company has a market capitalization of $2.42 billion, a P/E ratio of 23.47 and a beta of 2.89. The stock’s 50-day moving average is $34.89 and its 200-day moving average is $32.54.
TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.18. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The company had revenue of $201.01 million for the quarter, compared to analysts’ expectations of $168.27 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts expect that TriNet Group will post $1.49 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “TriNet Group, Inc. (TNET) Downgraded to “Sell” at Zacks Investment Research” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/10/05/trinet-group-inc-tnet-downgraded-to-sell-at-zacks-investment-research.html.
In other news, SVP Brady Mickelsen sold 4,744 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $35.73, for a total value of $169,503.12. Following the sale, the senior vice president now directly owns 38,842 shares in the company, valued at $1,387,824.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Burton M. Goldfield sold 2,694 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $33.94, for a total value of $91,434.36. Following the completion of the sale, the chief executive officer now owns 31,225 shares in the company, valued at $1,059,776.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 388,487 shares of company stock worth $14,115,445. Insiders own 42.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of TriNet Group in the first quarter valued at $105,000. Envestnet Asset Management Inc. raised its stake in shares of TriNet Group by 13.3% in the first quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 483 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of TriNet Group by 18.6% in the first quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 723 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of TriNet Group in the first quarter valued at $153,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of TriNet Group by 596.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock valued at $187,000 after acquiring an additional 4,886 shares in the last quarter. Institutional investors and hedge funds own 54.58% of the company’s stock.
TriNet Group Company Profile
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.
Receive News & Stock Ratings for TriNet Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group Inc. and related stocks with our FREE daily email newsletter.