William Blair Comments on TriNet Group Inc’s Q3 2020 Earnings (NYSE:TNET)

TriNet Group Inc (NYSE:TNET) – William Blair decreased their Q3 2020 earnings per share (EPS) estimates for shares of TriNet Group in a research note issued to investors on Tuesday, July 28th. William Blair analyst A. Nicholas now forecasts that the business services provider will earn $0.04 per share for the quarter, down from their prior forecast of $0.29. William Blair also issued estimates for TriNet Group’s Q4 2020 earnings at ($0.02) EPS, FY2020 earnings at $3.25 EPS, Q1 2021 earnings at $0.84 EPS, Q2 2021 earnings at $0.75 EPS, Q3 2021 earnings at $0.71 EPS, Q4 2021 earnings at $0.77 EPS and FY2021 earnings at $3.08 EPS.

Several other equities research analysts have also commented on the stock. Credit Suisse Group upped their price target on shares of TriNet Group from $44.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective for the company in a research note on Saturday. Finally, Stifel Nicolaus boosted their price objective on TriNet Group from $66.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.75.

NYSE TNET opened at $66.00 on Friday. TriNet Group has a 52 week low of $27.79 and a 52 week high of $75.32. The firm has a market capitalization of $4.44 billion, a P/E ratio of 14.22 and a beta of 1.91. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $60.01 and a 200-day moving average price of $52.58.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, July 27th. The business services provider reported $2.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $1.04. TriNet Group had a net margin of 8.03% and a return on equity of 60.66%. The firm had revenue of $335.00 million during the quarter, compared to analyst estimates of $268.46 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The business’s revenue for the quarter was up 45.0% compared to the same quarter last year.

In other TriNet Group news, CFO Michael P. Murphy sold 1,243 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $55.00, for a total value of $68,365.00. Following the sale, the chief financial officer now owns 36,448 shares in the company, valued at $2,004,640. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Burton M. Goldfield sold 4,500 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $43.15, for a total value of $194,175.00. Following the completion of the sale, the chief executive officer now owns 160,621 shares in the company, valued at approximately $6,930,796.15. The disclosure for this sale can be found here. Insiders have sold a total of 239,111 shares of company stock worth $14,444,013 in the last 90 days. 39.70% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management LLC purchased a new stake in TriNet Group in the first quarter worth $247,000. Parametric Portfolio Associates LLC grew its position in shares of TriNet Group by 8.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 90,666 shares of the business services provider’s stock worth $3,414,000 after buying an additional 7,194 shares in the last quarter. Invesco Ltd. grew its position in shares of TriNet Group by 58.2% during the 1st quarter. Invesco Ltd. now owns 42,822 shares of the business services provider’s stock worth $1,613,000 after buying an additional 15,756 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of TriNet Group by 86.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 14,546 shares of the business services provider’s stock worth $548,000 after buying an additional 6,753 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of TriNet Group by 49.5% during the 1st quarter. Principal Financial Group Inc. now owns 6,538 shares of the business services provider’s stock worth $246,000 after buying an additional 2,166 shares in the last quarter. Institutional investors and hedge funds own 92.78% of the company’s stock.

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.

Further Reading: Strike Price

Earnings History and Estimates for TriNet Group (NYSE:TNET)

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