Shares of TriNet Group, Inc. (NYSE:TNET) have received an average recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $36.25.
Several equities research analysts have commented on the stock. BidaskClub lowered shares of TriNet Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Deutsche Bank AG lowered shares of TriNet Group from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Wednesday, April 19th. Zacks Investment Research lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Stifel Nicolaus boosted their target price on shares of TriNet Group from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd.
Shares of TriNet Group (NYSE:TNET) traded down 1.57% during mid-day trading on Monday, reaching $38.17. 276,215 shares of the company were exchanged. The stock has a market capitalization of $2.65 billion, a P/E ratio of 25.65 and a beta of 2.94. The stock has a 50 day moving average price of $33.71 and a 200-day moving average price of $29.84. TriNet Group has a 12 month low of $17.78 and a 12 month high of $41.58.
TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Monday, July 31st. The business services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.18. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The firm had revenue of $201.01 million for the quarter, compared to analyst estimates of $168.27 million. During the same period last year, the firm posted $0.27 EPS. TriNet Group’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts predict that TriNet Group will post $1.47 earnings per share for the current year.
In related news, Director Martin Babinec sold 48,300 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $32.17, for a total value of $1,553,811.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Burton M. Goldfield sold 42,839 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $30.99, for a total transaction of $1,327,580.61. Following the completion of the transaction, the chief executive officer now directly owns 18,801 shares of the company’s stock, valued at approximately $582,642.99. The disclosure for this sale can be found here. Insiders sold a total of 330,488 shares of company stock worth $10,781,235 over the last quarter. Insiders own 41.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. increased its position in TriNet Group by 1,275.3% in the fourth quarter. Macquarie Group Ltd. now owns 687,870 shares of the business services provider’s stock worth $17,623,000 after buying an additional 637,853 shares in the last quarter. Norges Bank bought a new position in TriNet Group during the fourth quarter worth approximately $13,382,000. Wellington Management Group LLP increased its position in TriNet Group by 9.4% in the first quarter. Wellington Management Group LLP now owns 4,970,312 shares of the business services provider’s stock worth $143,643,000 after buying an additional 428,077 shares in the last quarter. Vanguard Group Inc. increased its position in TriNet Group by 11.0% in the first quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock worth $122,217,000 after buying an additional 418,005 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in TriNet Group during the first quarter worth approximately $6,194,000. 52.96% of the stock is owned by institutional investors.
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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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