Shares of TriNet Group Inc (NYSE:TNET) have been given a consensus rating of “Buy” by the six research firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $73.25.
A number of analysts recently commented on the company. Credit Suisse Group upped their price objective on TriNet Group from $44.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Zacks Investment Research raised TriNet Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price target for the company in a report on Saturday, August 1st. Stifel Nicolaus boosted their price target on TriNet Group from $66.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. boosted their price target on TriNet Group from $65.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 17th.
TriNet Group stock opened at $61.89 on Wednesday. The stock has a market cap of $4.14 billion, a PE ratio of 13.34 and a beta of 1.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.23 and a current ratio of 1.23. TriNet Group has a one year low of $27.79 and a one year high of $73.82. The stock has a fifty day moving average of $66.82 and a 200 day moving average of $54.67.
TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Monday, July 27th. The business services provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $1.04. The company had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $268.46 million. TriNet Group had a return on equity of 60.66% and a net margin of 8.03%. TriNet Group’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, sell-side analysts predict that TriNet Group will post 3.24 EPS for the current fiscal year.
In related news, CEO Burton M. Goldfield sold 11,667 shares of TriNet Group stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $57.09, for a total value of $666,069.03. Following the completion of the transaction, the chief executive officer now owns 156,410 shares in the company, valued at approximately $8,929,446.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin Babinec sold 51,205 shares of TriNet Group stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $62.76, for a total value of $3,213,625.80. Following the completion of the sale, the director now owns 5,773 shares in the company, valued at $362,313.48. The disclosure for this sale can be found here. Insiders have sold a total of 172,716 shares of company stock worth $11,218,217 in the last ninety days. Insiders own 39.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC raised its position in TriNet Group by 99.2% in the second quarter. FinTrust Capital Advisors LLC now owns 1,281 shares of the business services provider’s stock valued at $78,000 after purchasing an additional 638 shares during the period. Principal Financial Group Inc. boosted its stake in shares of TriNet Group by 4.1% during the second quarter. Principal Financial Group Inc. now owns 6,804 shares of the business services provider’s stock worth $415,000 after buying an additional 266 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of TriNet Group during the second quarter worth about $471,000. ArrowMark Colorado Holdings LLC boosted its stake in shares of TriNet Group by 0.9% during the second quarter. ArrowMark Colorado Holdings LLC now owns 5,205,059 shares of the business services provider’s stock worth $317,196,000 after buying an additional 48,734 shares during the period. Finally, Summit Street Capital Management LLC boosted its stake in shares of TriNet Group by 17.2% during the second quarter. Summit Street Capital Management LLC now owns 64,901 shares of the business services provider’s stock worth $3,955,000 after buying an additional 9,520 shares during the period. 92.66% of the stock is currently owned by institutional investors.
About TriNet Group
TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. The company offers 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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