TriNet Group (TNET) Given a $54.00 Price Target by Credit Suisse Group Analysts

Credit Suisse Group set a $54.00 target price on TriNet Group (NYSE:TNET) in a research note published on Tuesday morning, The Fly reports. The brokerage currently has a hold rating on the business services provider’s stock.

A number of other brokerages have also recently issued reports on TNET. Stifel Nicolaus raised their price objective on TriNet Group from $64.00 to $66.00 and gave the company a buy rating in a research note on Tuesday, July 31st. Morgan Stanley raised their price objective on TriNet Group from $51.00 to $55.00 and gave the company a hold rating in a research note on Tuesday, July 31st. Finally, Zacks Investment Research raised TriNet Group from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research note on Saturday, August 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. TriNet Group currently has a consensus rating of Buy and an average price target of $59.00.

Shares of NYSE:TNET opened at $47.83 on Tuesday. TriNet Group has a 12-month low of $33.51 and a 12-month high of $60.15. The stock has a market cap of $3.25 billion, a PE ratio of 27.81 and a beta of 2.40. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.30.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Monday, October 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.20. TriNet Group had a return on equity of 69.17% and a net margin of 6.67%. The firm had revenue of $228.00 million for the quarter, compared to analysts’ expectations of $202.65 million. During the same period last year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, analysts anticipate that TriNet Group will post 2.39 EPS for the current year.

In related news, SVP Brady Mickelsen sold 5,002 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $57.02, for a total value of $285,214.04. Following the sale, the senior vice president now directly owns 61,583 shares of the company’s stock, valued at $3,511,462.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 17,563 shares of the firm’s stock in a transaction dated Thursday, October 18th. The stock was sold at an average price of $49.53, for a total value of $869,895.39. Following the completion of the sale, the chief executive officer now directly owns 210,257 shares in the company, valued at $10,414,029.21. The disclosure for this sale can be found here. Insiders sold 175,605 shares of company stock worth $9,691,464 over the last three months. 38.90% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in TriNet Group in the second quarter worth about $132,000. Brown Advisory Inc. purchased a new stake in TriNet Group in the first quarter worth about $232,000. Fox Run Management L.L.C. purchased a new stake in TriNet Group in the third quarter worth about $239,000. Raymond James & Associates purchased a new stake in TriNet Group in the second quarter worth about $246,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in TriNet Group in the first quarter worth about $247,000. 85.59% of the stock is currently owned by institutional investors.

TriNet Group Company Profile

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.

See Also: Why do corrections happen?

The Fly

Receive News & Ratings for TriNet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply