TriNet (TNET) SVP Sells $261,954.74 in Stock

TriNet (NYSE:TNET) SVP Brady Mickelsen sold 5,002 shares of the company’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $52.37, for a total transaction of $261,954.74. Following the completion of the transaction, the senior vice president now directly owns 55,833 shares of the company’s stock, valued at $2,923,974.21. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Brady Mickelsen also recently made the following trade(s):

  • On Thursday, March 1st, Brady Mickelsen sold 18,000 shares of TriNet stock. The shares were sold at an average price of $45.78, for a total transaction of $824,040.00.
  • On Tuesday, February 20th, Brady Mickelsen sold 6,393 shares of TriNet stock. The shares were sold at an average price of $41.11, for a total transaction of $262,816.23.

Shares of TriNet traded down $0.22, hitting $53.22, during trading hours on Thursday, MarketBeat.com reports. 432,291 shares of the company were exchanged, compared to its average volume of 384,142. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.21 and a current ratio of 1.21. TriNet has a one year low of $52.70 and a one year high of $53.17. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 30.94 and a beta of 2.49.

TriNet (NYSE:TNET) last issued its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.05). TriNet had a return on equity of 83.91% and a net margin of 6.09%. The company had revenue of $204.00 million for the quarter, compared to the consensus estimate of $198.33 million. research analysts forecast that TriNet will post 2.36 EPS for the current year.

TriNet declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 27th that authorizes the company to buyback $120.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Several hedge funds have recently modified their holdings of TNET. California Public Employees Retirement System lifted its position in shares of TriNet by 17.5% during the third quarter. California Public Employees Retirement System now owns 30,188 shares of the business services provider’s stock worth $1,015,000 after purchasing an additional 4,488 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of TriNet by 240.3% during the fourth quarter. Acadian Asset Management LLC now owns 423,687 shares of the business services provider’s stock worth $18,786,000 after purchasing an additional 299,166 shares during the last quarter. Hennessy Advisors Inc. lifted its position in shares of TriNet by 480.7% during the fourth quarter. Hennessy Advisors Inc. now owns 895,500 shares of the business services provider’s stock worth $39,706,000 after purchasing an additional 741,300 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of TriNet during the fourth quarter worth about $1,281,000. Finally, Chicago Equity Partners LLC lifted its position in shares of TriNet by 32.4% during the fourth quarter. Chicago Equity Partners LLC now owns 159,460 shares of the business services provider’s stock worth $7,070,000 after purchasing an additional 38,985 shares during the last quarter. 86.40% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on TNET. Zacks Investment Research raised shares of TriNet from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. ValuEngine raised shares of TriNet from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Stifel Nicolaus reissued a “buy” rating and issued a $59.00 price objective on shares of TriNet in a research report on Thursday, April 12th. Finally, Morgan Stanley upped their price objective on shares of TriNet from $46.00 to $48.00 and gave the company a “hold” rating in a research report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $52.00.

About TriNet

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.

Insider Buying and Selling by Quarter for TriNet (NYSE:TNET)

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