TriNet Group, Inc. (NYSE:TNET) Upgraded to “Strong-Buy” by Zacks Investment Research
TriNet Group, Inc. (NYSE:TNET) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday. The brokerage currently has a $45.00 price target on the business services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.32% from the stock’s previous close.
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 also recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating on shares of TriNet Group in a report on Friday, April 14th. BidaskClub downgraded TriNet Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Deutsche Bank AG increased their target price on TriNet Group from $30.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.00.
Shares of TriNet Group (NYSE:TNET) opened at 39.71 on Friday. TriNet Group has a 12 month low of $17.78 and a 12 month high of $41.58. The stock’s 50 day moving average price is $33.08 and its 200 day moving average price is $29.64. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 26.69 and a beta of 2.94.
TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.18. The firm had revenue of $201.01 million for the quarter, compared to the consensus estimate of $168.27 million. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. Analysts expect that TriNet Group will post $1.47 EPS for the current year.
In other TriNet Group news, VP Edward Griese sold 4,175 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $30.95, for a total value of $129,216.25. Following the completion of the sale, the vice president now owns 2,254 shares in the company, valued at $69,761.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director H Raymond Bingham sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $39.53, for a total value of $197,650.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $197,650. The disclosure for this sale can be found here. In the last three months, insiders sold 340,488 shares of company stock worth $10,930,635. 42.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of TNET. Envestnet Asset Management Inc. boosted its stake in shares of TriNet Group by 13.3% in 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 during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of TriNet Group during the first quarter worth approximately $105,000. Millrace Asset Group Inc. bought a new stake in shares of TriNet Group during the first quarter worth approximately $882,000. Trexquant Investment LP boosted its stake in shares of TriNet Group by 182.6% in the first quarter. Trexquant Investment LP now owns 23,458 shares of the business services provider’s stock worth $678,000 after buying an additional 15,158 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of TriNet Group by 3.1% in the first quarter. Swiss National Bank now owns 69,300 shares of the business services provider’s stock worth $2,003,000 after buying an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 53.35% of the company’s stock.
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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