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.