TriNet Group (TNET) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of TriNet Group (NYSE:TNET) from a strong-buy rating to a hold rating in a research note issued to investors on Friday morning.
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 several other research reports. BidaskClub lowered TriNet Group from a buy rating to a hold rating in a report on Thursday, September 14th. Morgan Stanley lifted their price objective on TriNet Group from $31.00 to $32.00 and gave the stock an underweight rating in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. TriNet Group presently has a consensus rating of Hold and an average target price of $38.00.
TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.30. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The company had revenue of $205.90 million for the quarter, compared to analyst estimates of $174.89 million. During the same quarter last year, the firm earned $0.29 EPS. TriNet Group’s revenue for the quarter was up 27.9% compared to the same quarter last year. equities research analysts expect that TriNet Group will post 1.77 EPS for the current year.
In related news, insider Michael P. Murphy sold 631 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $42.40, for a total transaction of $26,754.40. Following the completion of the transaction, the insider now owns 12,553 shares in the company, valued at approximately $532,247.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Edward Griese sold 3,494 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $42.40, for a total value of $148,145.60. Following the transaction, the vice president now owns 2,893 shares of the company’s stock, valued at approximately $122,663.20. The disclosure for this sale can be found here. Insiders have sold a total of 142,163 shares of company stock worth $5,925,247 in the last three months. 41.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in shares of TriNet Group by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 5,417 shares of the business services provider’s stock worth $177,000 after buying an additional 813 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of TriNet Group by 596.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock worth $187,000 after buying an additional 4,886 shares during the period. SG Americas Securities LLC bought a new position in TriNet Group in the 2nd quarter valued at $194,000. Sei Investments Co. raised its position in TriNet Group by 112.0% in the 3rd quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock valued at $266,000 after purchasing an additional 4,181 shares during the last quarter. Finally, ARP Americas LLC bought a new position in TriNet Group in the 3rd quarter valued at $286,000. Institutional investors and hedge funds own 56.52% of the company’s stock.
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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