Brokerages predict that TriNet Group, Inc. (NYSE:TNET) will report $247.52 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for TriNet Group’s earnings. The highest sales estimate is $252.59 million and the lowest is $241.50 million. TriNet Group posted sales of $216.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.6%. The firm is expected to issue its next earnings report on Monday, October 25th.
On average, analysts expect that TriNet Group will report full-year sales of $1.10 billion for the current financial year, with estimates ranging from $1.09 billion to $1.11 billion. For the next year, analysts expect that the business will post sales of $1.18 billion, with estimates ranging from $1.15 billion to $1.20 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow TriNet Group.
TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Sunday, July 25th. The business services provider reported $1.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.75. The company had revenue of $302.00 million for the quarter, compared to analysts’ expectations of $237.24 million. TriNet Group had a return on equity of 37.63% and a net margin of 5.88%.
In other TriNet Group news, CEO Burton M. Goldfield sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 24th. The stock was sold at an average price of $72.43, for a total value of $144,860.00. Following the completion of the transaction, the chief executive officer now directly owns 223,295 shares of the company’s stock, valued at $16,173,256.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director H Raymond Bingham sold 415 shares of the stock in a transaction on Wednesday, July 7th. The stock was sold at an average price of $70.99, for a total value of $29,460.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,769 shares of company stock worth $13,292,648. Insiders own 39.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in TriNet Group by 8.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 11,631 shares of the business services provider’s stock worth $907,000 after buying an additional 943 shares in the last quarter. Congress Asset Management Co. MA grew its stake in TriNet Group by 22.2% during the first quarter. Congress Asset Management Co. MA now owns 40,112 shares of the business services provider’s stock valued at $3,127,000 after acquiring an additional 7,295 shares in the last quarter. M&T Bank Corp raised its holdings in TriNet Group by 13.4% in the 1st quarter. M&T Bank Corp now owns 15,474 shares of the business services provider’s stock worth $1,206,000 after purchasing an additional 1,832 shares in the last quarter. BlackRock Inc. grew its position in TriNet Group by 15.3% during the 1st quarter. BlackRock Inc. now owns 3,531,144 shares of the business services provider’s stock valued at $275,288,000 after purchasing an additional 467,624 shares during the last quarter. Finally, Versor Investments LP lifted its stake in shares of TriNet Group by 180.5% in the 1st quarter. Versor Investments LP now owns 9,305 shares of the business services provider’s stock worth $725,000 after purchasing an additional 5,988 shares during the period. 89.57% of the stock is currently owned by hedge funds and other institutional investors.
TNET opened at $91.51 on Wednesday. The firm’s fifty day simple moving average is $84.42 and its 200 day simple moving average is $80.34. TriNet Group has a 12 month low of $56.91 and a 12 month high of $93.50. The stock has a market capitalization of $6.03 billion, a P/E ratio of 24.87 and a beta of 1.44. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.67.
TriNet Group Company Profile
TriNet Group, Inc provides human resources solutions including industry solutions to small and mid sized businesses. Its services include payroll processing tax administration, employee benefits and a human resource technology platform with online and mobile tools and also employee onboarding and termination, compensation reporting, expense management, and benefits enrollment and administration.
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