TriNet Group, Inc. (NYSE:TNET) posted its quarterly earnings results on Thursday. The business services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.30, Bloomberg Earnings reports. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The company had revenue of $205.90 million during the quarter, compared to analysts’ expectations of $174.89 million. During the same quarter in the previous year, the firm earned $0.29 EPS. TriNet Group’s revenue was up 27.9% on a year-over-year basis.
Shares of TriNet Group (TNET) traded up $6.97 on Friday, reaching $41.00. The company’s stock had a trading volume of 2,020,656 shares, compared to its average volume of 288,616. TriNet Group has a fifty-two week low of $19.66 and a fifty-two week high of $43.38. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 4.42. The firm has a market cap of $2.85 billion, a PE ratio of 25.66 and a beta of 2.88.
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In other news, CEO Burton M. Goldfield sold 2,694 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.94, for a total value of $91,434.36. Following the completion of the sale, the chief executive officer now owns 31,225 shares of the company’s stock, valued at $1,059,776.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Burton M. Goldfield sold 4,292 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $35.05, for a total value of $150,434.60. Following the completion of the sale, the chief executive officer now directly owns 29,282 shares of the company’s stock, valued at approximately $1,026,334.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 332,983 shares of company stock valued at $12,205,957. Insiders own 42.40% of the company’s stock.
A number of equities analysts have recently commented on the company. BidaskClub cut TriNet Group from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $33.00 to $36.00 in a report on Thursday, August 17th. Zacks Investment Research cut TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 21st. Stifel Nicolaus reissued a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Finally, Morgan Stanley boosted their price target on TriNet Group from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.60.
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.
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