TriNet Group (NYSE:TNET) released its earnings results on Monday, October 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.20, MarketWatch Earnings reports. The business had revenue of $228.00 million for the quarter, compared to analyst estimates of $202.65 million. TriNet Group had a net margin of 6.67% and a return on equity of 63.58%. TriNet Group’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share. TriNet Group updated its FY18 guidance to $2.85-2.99 EPS and its Q4 guidance to $0.42-0.56 EPS.
Shares of NYSE TNET traded up $0.74 during trading on Thursday, hitting $43.98. 170,147 shares of the company traded hands, compared to its average volume of 336,746. TriNet Group has a fifty-two week low of $38.26 and a fifty-two week high of $60.15. The firm has a market capitalization of $3.05 billion, a P/E ratio of 25.57 and a beta of 2.40. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.13.
In other news, VP Edward Griese sold 1,141 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $44.22, for a total transaction of $50,455.02. Following the completion of the sale, the vice president now directly owns 31,316 shares of the company’s stock, valued at $1,384,793.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Burton M. Goldfield sold 6,762 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $54.24, for a total transaction of $366,770.88. Following the sale, the chief executive officer now directly owns 207,228 shares of the company’s stock, valued at $11,240,046.72. The disclosure for this sale can be found here. Insiders have sold 144,493 shares of company stock worth $7,287,928 in the last quarter. Company insiders own 38.90% of the company’s stock.
Several equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of TriNet Group from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. ValuEngine lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Credit Suisse Group set a $54.00 target price on shares of TriNet Group and gave the company a “hold” rating in a report on Tuesday, October 30th. Zacks Investment Research upgraded shares of TriNet Group from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Saturday, August 4th. Finally, Morgan Stanley upped their price objective on shares of TriNet Group from $51.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $59.00.
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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