The TriNet Group Inc. (TNET) Lowered to “Strong Sell” at Zacks Investment Research

The TriNet Group Inc. (TNET) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of TriNet Group Inc. (NYSE:TNET) from a hold rating to a strong sell rating in a research note released on Tuesday morning.

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. “

Other analysts have also issued reports about the stock. Jefferies Group raised their price objective on shares of TriNet Group from $17.00 to $20.00 and gave the company a hold rating in a research note on Friday, August 5th. Morgan Stanley lowered shares of TriNet Group from an overweight rating to an equal weight rating and set a $22.00 price objective for the company. in a research note on Thursday, August 4th. They noted that the move was a valuation call. Deutsche Bank AG raised their price objective on shares of TriNet Group from $20.00 to $25.00 and gave the company a buy rating in a research note on Tuesday, August 2nd. Finally, Piper Jaffray Cos. raised their price objective on shares of TriNet Group from $18.00 to $21.00 and gave the company a neutral rating in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. TriNet Group currently has an average rating of Hold and a consensus price target of $22.33.

TriNet Group (NYSE:TNET) opened at 20.47 on Tuesday. The company has a market capitalization of $1.44 billion, a PE ratio of 35.91 and a beta of 2.73. TriNet Group has a 12-month low of $11.10 and a 12-month high of $22.97. The firm has a 50-day moving average of $21.12 and a 200 day moving average of $19.72.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company earned $745.80 million during the quarter, compared to analyst estimates of $148.11 million. TriNet Group had a net margin of 1.43% and a return on equity of 439.36%. TriNet Group’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. Analysts forecast that TriNet Group will post $1.16 EPS for the current fiscal year.

In related news, VP John W. Turner sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $21.85, for a total value of $109,250.00. Following the transaction, the vice president now owns 9,167 shares of the company’s stock, valued at $200,298.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Burton M. Goldfield sold 55,000 shares of TriNet Group stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $22.50, for a total transaction of $1,237,500.00. Following the transaction, the chief executive officer now directly owns 107,050 shares in the company, valued at approximately $2,408,625. The disclosure for this sale can be found here. 42.40% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. Sunriver Management LLC increased its position in shares of TriNet Group by 47.5% in the first quarter. Sunriver Management LLC now owns 343,800 shares of the company’s stock valued at $4,934,000 after buying an additional 110,690 shares in the last quarter. Sterling Ridge Capital Management LP purchased a new position in shares of TriNet Group during the first quarter valued at $264,000. A.R.T. Advisors LLC increased its position in shares of TriNet Group by 168.4% in the first quarter. A.R.T. Advisors LLC now owns 114,447 shares of the company’s stock valued at $1,642,000 after buying an additional 71,800 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of TriNet Group during the first quarter valued at $684,000. Finally, Legal & General Group Plc increased its position in shares of 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 in the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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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