TriNet Group, Inc. (NYSE:TNET) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday, October 25th.
Other analysts have also recently issued reports about the company. J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $33.00 to $36.00 in a research note on Thursday, August 17th. Zacks Investment Research lowered TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 price objective (up previously from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Finally, Morgan Stanley lowered TriNet Group from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $27.00 to $31.00 in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. TriNet Group currently has an average rating of “Hold” and a consensus price target of $38.00.
TriNet Group (NYSE TNET) traded up $0.97 during trading hours on Wednesday, reaching $42.69. The company’s stock had a trading volume of 799,900 shares, compared to its average volume of 294,554. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 3.00. The stock has a market cap of $2,898.93, a price-to-earnings ratio of 25.28 and a beta of 2.88. TriNet Group has a 52 week low of $21.35 and a 52 week high of $43.53.
TriNet Group (NYSE:TNET) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.30. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The firm had revenue of $205.90 million for the quarter, compared to analysts’ expectations of $174.89 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. analysts anticipate that TriNet Group will post 1.77 earnings per share for the current year.
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In other news, Director Martin Babinec sold 36,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $41.17, for a total transaction of $1,502,705.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 2,694 shares of TriNet Group stock in a transaction that occurred on 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 $1,059,776.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,260 shares of company stock valued at $6,218,436. 42.40% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of TriNet Group by 8.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,571,207 shares of the business services provider’s stock valued at $149,661,000 after buying an additional 342,250 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of TriNet Group by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,026,624 shares of the business services provider’s stock valued at $33,612,000 after acquiring an additional 75,862 shares in the last quarter. FMR LLC lifted its holdings in shares of TriNet Group by 58.7% during the 2nd quarter. FMR LLC now owns 906,982 shares of the business services provider’s stock valued at $29,695,000 after acquiring an additional 335,381 shares in the last quarter. State Street Corp lifted its holdings in shares of TriNet Group by 5.3% during the 2nd quarter. State Street Corp now owns 832,811 shares of the business services provider’s stock valued at $27,265,000 after acquiring an additional 41,959 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC acquired a new position in shares of TriNet Group during the 2nd quarter valued at $18,537,000. 54.65% of the stock is owned by hedge funds and other institutional investors.
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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