TriNet Group, Inc. (TNET) Stock Rating Upgraded by Zacks Investment Research
TriNet Group, Inc. (NYSE:TNET) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a research note issued on Thursday. The firm currently has a $47.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.10% from the company’s current price.
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 weighed in on TNET. Morgan Stanley raised their price objective on TriNet Group from $31.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, November 3rd. BidaskClub upgraded TriNet Group from a “hold” rating to a “buy” rating in a research report on Tuesday. J P Morgan Chase & Co lowered TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $33.00 to $36.00 in a research report on Thursday, August 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price target (up previously from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.00.
TriNet Group (NYSE TNET) opened at $42.69 on Thursday. The firm has a market capitalization of $2,898.93, a PE ratio of 25.28 and a beta of 2.88. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 3.00. TriNet Group has a 12-month low of $21.35 and a 12-month high of $43.53.
TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.30. The firm had revenue of $205.90 million during the quarter, compared to analyst estimates of $174.89 million. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The business’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. sell-side analysts forecast that TriNet Group will post 1.77 EPS for the current year.
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In other TriNet Group news, Director Martin Babinec sold 36,500 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $41.17, for a total value of $1,502,705.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Burton M. Goldfield sold 2,694 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.94, for a total transaction of $91,434.36. Following the completion of the sale, the chief executive officer now directly owns 31,225 shares of the company’s stock, valued at approximately $1,059,776.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,260 shares of company stock valued at $6,218,436. 42.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in TriNet Group by 8.1% in the second quarter. Vanguard Group Inc. now owns 4,571,207 shares of the business services provider’s stock worth $149,661,000 after purchasing an additional 342,250 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in TriNet Group by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,026,624 shares of the business services provider’s stock worth $33,612,000 after purchasing an additional 75,862 shares during the last quarter. FMR LLC lifted its stake in TriNet Group by 58.7% in the second quarter. FMR LLC now owns 906,982 shares of the business services provider’s stock worth $29,695,000 after purchasing an additional 335,381 shares during the last quarter. State Street Corp lifted its stake in TriNet Group by 5.3% in the second quarter. State Street Corp now owns 832,811 shares of the business services provider’s stock worth $27,265,000 after purchasing an additional 41,959 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC bought a new stake in TriNet Group in the second quarter worth about $18,537,000. 54.65% of the stock is owned by institutional investors and hedge funds.
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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