TriNet Group Inc (NYSE:TNET) has earned an average rating of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $59.00.
A number of equities analysts have issued reports on the stock. Credit Suisse Group set a $54.00 target price on shares of TriNet Group and gave the stock a “hold” rating in a report on Tuesday. Stifel Nicolaus raised their target price on shares of TriNet Group from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research raised TriNet Group from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Saturday, August 4th. Finally, Morgan Stanley lifted their price target on TriNet Group from $51.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 31st.
In other news, insider Michael P. Murphy sold 9,363 shares of TriNet Group stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $55.93, for a total transaction of $523,672.59. Following the sale, the insider now owns 22,418 shares of the company’s stock, valued at $1,253,838.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Martin Babinec sold 30,000 shares of TriNet Group stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $54.93, for a total value of $1,647,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,605 shares of company stock worth $9,691,464. Corporate insiders own 38.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TNET. Zacks Investment Management bought a new stake in TriNet Group during the second quarter worth approximately $4,693,000. Swiss National Bank raised its holdings in TriNet Group by 10.0% during the second quarter. Swiss National Bank now owns 79,300 shares of the business services provider’s stock worth $4,436,000 after purchasing an additional 7,200 shares in the last quarter. Alps Advisors Inc. raised its holdings in TriNet Group by 29.3% during the second quarter. Alps Advisors Inc. now owns 13,296 shares of the business services provider’s stock worth $590,000 after purchasing an additional 3,014 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in TriNet Group by 31.9% during the second quarter. Xact Kapitalforvaltning AB now owns 7,037 shares of the business services provider’s stock worth $394,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in TriNet Group during the second quarter worth approximately $132,000. 85.59% of the stock is currently owned by institutional investors.
Shares of NYSE TNET opened at $47.83 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.30. TriNet Group has a 52-week low of $33.51 and a 52-week high of $60.15. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 27.81 and a beta of 2.40.
TriNet Group (NYSE:TNET) last issued its earnings results on Monday, October 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.20. TriNet Group had a net margin of 6.54% and a return on equity of 74.08%. The firm had revenue of $228.00 million for the quarter, compared to analysts’ expectations of $202.65 million. During the same quarter last year, the company posted $0.56 earnings per share. TriNet Group’s revenue was up 11.2% on a year-over-year basis. As a group, analysts anticipate that TriNet Group will post 2.39 EPS for the current fiscal year.
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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