TriNet Group Inc. (TNET) VP John W. Turner Sells 5,000 Shares of Stock
TriNet Group Inc. (NYSE:TNET) VP John W. Turner sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $21.85, for a total transaction of $109,250.00. Following the transaction, the vice president now owns 9,167 shares in the company, valued at approximately $200,298.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of TriNet Group Inc. (NYSE:TNET) opened at 20.99 on Monday. TriNet Group Inc. has a 1-year low of $11.10 and a 1-year high of $22.97. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 36.82 and a beta of 2.73. The stock has a 50 day moving average of $21.14 and a 200 day moving average of $19.57.
TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, August 1st. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $745.80 million for the quarter, compared to analysts’ expectations of $148.11 million. TriNet Group had a net margin of 1.43% and a return on equity of 439.36%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share. On average, equities analysts forecast that TriNet Group Inc. will post $1.16 EPS for the current year.
Several research analysts have weighed in on TNET shares. Deutsche Bank AG upped their price objective on shares of TriNet Group from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Morgan Stanley downgraded shares of TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective on the stock. in a report on Thursday, August 4th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Friday, August 12th. Jefferies Group upped their price objective on shares of TriNet Group from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Finally, Piper Jaffray Cos. upped their price objective on shares of TriNet Group from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $22.33.
A number of hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its stake in TriNet Group by 23.6% in the second quarter. Teacher Retirement System of Texas now owns 5,895 shares of the company’s stock valued at $123,000 after buying an additional 1,127 shares during the period. Legal & General Group Plc boosted its stake in TriNet Group by 31.9% in the first quarter. Legal & General Group Plc now owns 9,275 shares of the company’s stock valued at $131,000 after buying an additional 2,245 shares during the period. Principal Financial Group Inc. bought a new stake in TriNet Group during the second quarter valued at $205,000. Menta Capital LLC bought a new stake in TriNet Group during the first quarter valued at $250,000. Finally, Sterling Ridge Capital Management LP bought a new stake in TriNet Group during the first quarter valued at $264,000. Institutional investors and hedge funds own 78.91% of the company’s stock.
TriNet Group Company Profile
TriNet Group, Inc (TriNet) is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s human resource solutions include offerings, such as multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; federal, state and local labor, employment and benefit law compliance; risk mitigation, including employment practices claims management; expense and time management, and human capital consulting.
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