Zacks Investment Research lowered shares of TriNet Group (NYSE:TNET) from a hold rating to a sell rating in a research report report published on Thursday.
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 subject of a number of other research reports. BidaskClub downgraded TriNet Group from a buy rating to a hold rating in a research report on Wednesday, October 25th. Morgan Stanley raised their price objective on TriNet Group from $31.00 to $32.00 and gave the stock an underweight rating in a research report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $38.00.
Shares of TriNet Group (NYSE TNET) opened at $41.85 on Thursday. TriNet Group has a 52 week low of $25.55 and a 52 week high of $45.25. The firm has a market capitalization of $2,907.95, a P/E ratio of 25.36 and a beta of 2.78. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.18 and a current ratio of 1.18.
In other TriNet Group news, insider Michael P. Murphy sold 837 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $40.86, for a total value of $34,199.82. Following the completion of the sale, the insider now owns 19,444 shares in the company, valued at approximately $794,481.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brady Mickelsen sold 6,393 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $41.11, for a total value of $262,816.23. Following the completion of the sale, the senior vice president now owns 35,036 shares of the company’s stock, valued at approximately $1,440,329.96. The disclosure for this sale can be found here. Insiders sold a total of 184,022 shares of company stock valued at $7,908,421 in the last quarter. Corporate insiders own 42.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Suntrust Banks Inc. bought a new stake in shares of TriNet Group in the 4th quarter worth approximately $218,000. Intrust Bank NA bought a new position in shares of TriNet Group during the 4th quarter worth approximately $231,000. Pitcairn Co. bought a new position in shares of TriNet Group during the 4th quarter worth approximately $230,000. Amalgamated Bank bought a new position in shares of TriNet Group during the 4th quarter worth approximately $250,000. Finally, Invictus RG lifted its position in shares of TriNet Group by 885.6% during the 4th quarter. Invictus RG now owns 6,071 shares of the business services provider’s stock worth $269,000 after buying an additional 5,455 shares during the period. Institutional investors own 56.54% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TriNet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group and related companies with MarketBeat.com's FREE daily email newsletter.