TriNet Group Inc (NYSE:TNET) Given Average Rating of “Buy” by Brokerages

TriNet Group Inc (NYSE:TNET) has received an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $72.75.

A number of equities research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on TriNet Group from $66.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Credit Suisse Group boosted their price target on TriNet Group from $44.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Finally, Zacks Investment Research raised TriNet Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price target for the company in a research report on Saturday.

TNET stock opened at $66.00 on Tuesday. The stock has a 50-day moving average price of $60.01 and a two-hundred day moving average price of $52.58. TriNet Group has a 12-month low of $27.79 and a 12-month high of $75.32. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. The company has a market cap of $4.44 billion, a PE ratio of 14.22 and a beta of 1.91.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Monday, July 27th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $1.04. TriNet Group had a return on equity of 60.66% and a net margin of 8.03%. The firm had revenue of $335.00 million during the quarter, compared to the consensus estimate of $268.46 million. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was up 45.0% compared to the same quarter last year. Equities analysts forecast that TriNet Group will post 3.24 EPS for the current fiscal year.

In other news, Director Kenneth A. Goldman sold 2,436 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $50.00, for a total value of $121,800.00. Following the completion of the sale, the director now owns 5,773 shares of the company’s stock, valued at $288,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Edward Griese sold 646 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $47.15, for a total value of $30,458.90. Following the completion of the sale, the senior vice president now directly owns 39,631 shares of the company’s stock, valued at approximately $1,868,601.65. The disclosure for this sale can be found here. Insiders sold 239,111 shares of company stock valued at $14,444,013 in the last ninety days. Company insiders own 39.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TNET. Victory Capital Management Inc. boosted its holdings in TriNet Group by 6.6% in the fourth quarter. Victory Capital Management Inc. now owns 8,865 shares of the business services provider’s stock valued at $502,000 after purchasing an additional 547 shares during the last quarter. Jane Street Group LLC boosted its holdings in TriNet Group by 7.5% in the fourth quarter. Jane Street Group LLC now owns 6,503 shares of the business services provider’s stock valued at $368,000 after purchasing an additional 451 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in TriNet Group by 26.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 40,018 shares of the business services provider’s stock valued at $2,265,000 after purchasing an additional 8,328 shares during the last quarter. Man Group plc boosted its holdings in TriNet Group by 0.4% in the fourth quarter. Man Group plc now owns 194,745 shares of the business services provider’s stock valued at $11,025,000 after purchasing an additional 728 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in TriNet Group by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 692,383 shares of the business services provider’s stock valued at $39,195,000 after purchasing an additional 12,089 shares during the last quarter. 92.78% of the stock is owned by hedge funds and other 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.

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