TriNet Group (TNET) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of TriNet Group (NYSE:TNET) from a sell rating to a hold rating in a report published 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. “
A number of other brokerages also recently commented on TNET. Morgan Stanley upped their price objective on shares of TriNet Group from $31.00 to $32.00 and gave the stock an underweight rating in a research report on Friday, November 3rd. BidaskClub upgraded shares of TriNet Group from a hold rating to a buy rating in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $38.00.
In other TriNet Group news, Director Martin Babinec sold 36,500 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $44.21, for a total transaction of $1,613,665.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Burton M. Goldfield sold 24,676 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $42.40, for a total transaction of $1,046,262.40. Following the transaction, the chief executive officer now owns 28,589 shares of the company’s stock, valued at approximately $1,212,173.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,663 shares of company stock valued at $7,739,446. 42.40% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Suntrust Banks Inc. acquired a new position in shares of TriNet Group during the 4th quarter worth $218,000. Intrust Bank NA acquired a new position in shares of TriNet Group during the 4th quarter worth $231,000. Sei Investments Co. grew its stake in shares of TriNet Group by 112.0% during the 3rd quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock worth $266,000 after purchasing an additional 4,181 shares during the period. ARP Americas LLC acquired a new position in shares of TriNet Group during the 3rd quarter worth $286,000. Finally, Capital Fund Management S.A. grew its stake in shares of TriNet Group by 25.6% during the 4th quarter. Capital Fund Management S.A. now owns 10,800 shares of the business services provider’s stock worth $479,000 after purchasing an additional 2,200 shares during the period. 58.01% of the stock is currently owned by institutional investors and hedge funds.
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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.
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