TriNet Group, Inc. (TNET) Rating Lowered 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 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 have also recently issued reports on TNET. BidaskClub raised shares of TriNet Group from a buy rating to a strong-buy rating in a report on Friday, June 30th. Morgan Stanley cut shares of TriNet Group from an equal weight rating to an underweight rating and upped their target price for the company from $27.00 to $31.00 in a report on Tuesday, August 22nd. Stifel Nicolaus reaffirmed a buy rating and issued a $44.00 target price (up from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Finally, J P Morgan Chase & Co cut shares of TriNet Group from a neutral rating to an underweight rating and upped their target price for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $37.40.

Shares of TriNet Group (NYSE:TNET) opened at 34.33 on Wednesday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 23.07 and a beta of 2.89. The company’s 50 day moving average price is $34.77 and its 200 day moving average price is $32.59. TriNet Group has a one year low of $17.78 and a one year high of $41.58.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.27 by $0.18. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The firm had revenue of $201.01 million for the quarter, compared to analysts’ expectations of $168.27 million. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts expect that TriNet Group will post $1.49 earnings per share for the current fiscal year.

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In other TriNet Group news, Director Wayne B. Lowell sold 20,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $39.15, for a total value of $783,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Babinec sold 36,500 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total transaction of $1,212,530.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 392,979 shares of company stock worth $14,272,889. 42.40% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its holdings in TriNet Group by 102.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 23,978 shares of the business services provider’s stock valued at $785,000 after acquiring an additional 12,159 shares during the period. Mitra Capital LLC bought a new position in TriNet Group in the 2nd quarter valued at about $1,355,000. State Street Corp raised its holdings in TriNet Group by 5.3% in 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 during the period. Gotham Asset Management LLC bought a new position in TriNet Group in the 2nd quarter valued at about $1,026,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in TriNet Group in the 2nd quarter valued at about $2,418,000. 54.58% of the stock is currently 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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