TriNet Group, Inc. (NYSE:TNET) had its price objective boosted by analysts at Morgan Stanley from $31.00 to $32.00 in a research note issued on Friday. The brokerage currently has an “underweight” rating on the business services provider’s stock. Morgan Stanley’s price target points to a potential downside of 21.95% from the stock’s current price.
Several other equities research analysts also recently issued reports on the company. BidaskClub downgraded TriNet Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Zacks Investment Research downgraded TriNet Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. J P Morgan Chase & Co downgraded TriNet Group from a “neutral” rating to an “underweight” rating and raised their price target for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Finally, Stifel Nicolaus reaffirmed 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. Three research 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 stock has an average rating of “Hold” and a consensus price target of $37.60.
Shares of TriNet Group (NYSE TNET) opened at $41.00 on Friday. TriNet Group has a twelve month low of $19.66 and a twelve month high of $43.38. The stock has a market capitalization of $2,848.89, a price-to-earnings ratio of 24.85 and a beta of 2.88. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 4.42.
TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.30. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The business had revenue of $205.90 million during the quarter, compared to the consensus estimate of $174.89 million. During the same quarter last year, the firm posted $0.29 EPS. The company’s quarterly revenue was up 27.9% on a year-over-year basis. equities research analysts expect that TriNet Group will post 1.27 earnings per share for the current fiscal year.
In other news, Director Martin Babinec sold 111,855 shares of TriNet Group stock in a transaction on Friday, August 11th. The stock was sold at an average price of $37.75, for a total transaction of $4,222,526.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Burton M. Goldfield sold 4,292 shares of TriNet Group stock in a transaction on Friday, October 27th. The stock was sold at an average price of $35.05, for a total value of $150,434.60. Following 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. Insiders have sold 332,983 shares of company stock valued at $12,205,957 in the last three months. Insiders own 42.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of TNET. Envestnet Asset Management Inc. lifted its holdings in shares of TriNet Group by 13.3% during the first quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock worth $119,000 after buying an additional 483 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of TriNet Group by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,417 shares of the business services provider’s stock worth $177,000 after purchasing an additional 813 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of TriNet Group by 596.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock worth $187,000 after purchasing an additional 4,886 shares during the period. SG Americas Securities LLC bought a new position in shares of TriNet Group in the second quarter worth $194,000. Finally, Pitcairn Co. bought a new position in shares of TriNet Group in the second quarter worth $201,000. 54.68% of the stock is owned by 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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