TriNet Group (TNET) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of TriNet Group (NYSE:TNET) from a strong-buy rating to a hold rating in a research report sent to investors on Friday.

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 research analysts have also recently commented on TNET. BidaskClub cut shares of TriNet Group from a buy rating to a hold rating in a research note on Thursday, September 14th. Morgan Stanley raised their price target on shares of TriNet Group from $31.00 to $32.00 and gave the stock an underweight rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $38.00.

Shares of TriNet Group (TNET) opened at $44.38 on Friday. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.18 and a quick ratio of 1.18. TriNet Group has a one year low of $24.09 and a one year high of $45.25. The firm has a market cap of $3,030.95, a PE ratio of 26.44 and a beta of 3.01.

TriNet Group (NYSE:TNET) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.30. TriNet Group had a net margin of 4.15% and a return on equity of 156.96%. The business had revenue of $205.90 million during the quarter, compared to analysts’ expectations of $174.89 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was up 27.9% on a year-over-year basis. research analysts forecast that TriNet Group will post 1.77 EPS for the current year.

In other TriNet Group news, CEO Burton M. Goldfield sold 13,317 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $33.98, for a total transaction of $452,511.66. Following the completion of the transaction, the chief executive officer now owns 31,225 shares in the company, valued at $1,061,025.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Martin Babinec sold 36,500 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $44.21, for a total transaction of $1,613,665.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,163 shares of company stock valued at $5,925,247. Corporate insiders own 42.40% of the company’s stock.

Several large investors have recently bought and sold shares of TNET. Cramer Rosenthal Mcglynn LLC bought a new position in shares of TriNet Group in the second quarter valued at approximately $18,537,000. Vanguard Group Inc. raised its stake in shares of TriNet Group by 8.1% in the second quarter. Vanguard Group Inc. now owns 4,571,207 shares of the business services provider’s stock valued at $149,661,000 after acquiring an additional 342,250 shares during the last quarter. FMR LLC raised its stake in shares of TriNet Group by 58.7% in the second quarter. FMR LLC now owns 906,982 shares of the business services provider’s stock valued at $29,695,000 after acquiring an additional 335,381 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of TriNet Group by 644.8% in the third quarter. Russell Investments Group Ltd. now owns 265,053 shares of the business services provider’s stock valued at $8,911,000 after acquiring an additional 229,466 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware bought a new position in shares of TriNet Group in the second quarter valued at approximately $5,218,000. Institutional investors own 56.52% of the company’s stock.

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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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