TriNet Group, Inc. (TNET) Upgraded by Zacks Investment Research to “Strong-Buy”
Zacks Investment Research upgraded shares of TriNet Group, Inc. (NYSE:TNET) from a sell rating to a strong-buy rating in a report released on Thursday. The brokerage currently has $47.00 price target on the business services provider’s stock.
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. “
Several other analysts have also commented on the stock. BidaskClub raised shares of TriNet Group from a hold rating to a buy rating in a research report on Tuesday, November 7th. Morgan Stanley increased their price target on shares of TriNet Group from $31.00 to $32.00 and gave the company an underweight rating in a research report on Friday, November 3rd. J P Morgan Chase & Co lowered shares of TriNet Group from a neutral rating to an underweight rating and increased their price target for the company from $33.00 to $36.00 in a research report on Thursday, August 17th. Finally, Stifel Nicolaus reissued a buy rating and set a $44.00 price target (up from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $38.00.
Shares of TriNet Group (TNET) opened at $42.69 on Thursday. TriNet Group has a one year low of $21.35 and a one year high of $43.53. The firm has a market cap of $2,966.33, a PE ratio of 25.87 and a beta of 2.88. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.00.
TriNet Group (NYSE:TNET) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $205.90 million during the quarter, compared to analyst estimates of $174.89 million. During the same period in the prior year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. analysts anticipate that TriNet Group will post 1.77 EPS for the current year.
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In other news, insider Michael P. Murphy sold 3,851 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $34.01, for a total transaction of $130,972.51. Following the transaction, the insider now owns 18,133 shares in the company, valued at $616,703.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Edward Griese sold 3,494 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $35.45, for a total transaction of $123,862.30. Following the transaction, the vice president now owns 8,504 shares in the company, valued at approximately $301,466.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,260 shares of company stock valued at $6,218,436. Insiders own 41.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in shares of TriNet Group by 25.0% during the second quarter. New York State Common Retirement Fund now owns 68,287 shares of the business services provider’s stock valued at $2,236,000 after acquiring an additional 13,651 shares in the last quarter. Chicago Equity Partners LLC increased its holdings in shares of TriNet Group by 41.8% during the second quarter. Chicago Equity Partners LLC now owns 108,150 shares of the business services provider’s stock valued at $3,541,000 after acquiring an additional 31,900 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of TriNet Group by 14.0% during the second quarter. Russell Investments Group Ltd. now owns 35,587 shares of the business services provider’s stock valued at $1,165,000 after acquiring an additional 4,368 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of TriNet Group during the second quarter valued at about $2,201,000. Finally, Bank of America Corp DE increased its holdings in shares of TriNet Group by 21.2% during the first quarter. Bank of America Corp DE now owns 213,234 shares of the business services provider’s stock valued at $6,162,000 after acquiring an additional 37,295 shares in the last quarter. Hedge funds and other institutional investors own 55.12% of the company’s stock.
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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