TriNet Group, Inc. (NYSE:TNET – Get Free Report) CEO Burton M. Goldfield sold 3,660 shares of TriNet Group stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $106.34, for a total value of $389,204.40. Following the completion of the sale, the chief executive officer now owns 170,703 shares of the company’s stock, valued at $18,152,557.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
TriNet Group Stock Up 0.4 %
Shares of TNET traded up $0.46 during midday trading on Friday, hitting $106.04. The company had a trading volume of 4,814,518 shares, compared to its average volume of 414,950. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.28 and a current ratio of 1.28. TriNet Group, Inc. has a 1 year low of $60.60 and a 1 year high of $111.85. The firm has a market capitalization of $6.33 billion, a P/E ratio of 19.12 and a beta of 1.18. The company’s 50-day simple moving average is $99.42 and its 200-day simple moving average is $90.69.
TriNet Group (NYSE:TNET – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The business services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.07 by $0.45. The company had revenue of $341.00 million for the quarter, compared to analyst estimates of $310.34 million. TriNet Group had a return on equity of 45.40% and a net margin of 6.91%. As a group, sell-side analysts expect that TriNet Group, Inc. will post 6.09 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates boosted its stake in shares of TriNet Group by 13.5% in the first quarter. Raymond James & Associates now owns 5,307 shares of the business services provider’s stock valued at $522,000 after buying an additional 631 shares in the last quarter. Bank of New York Mellon Corp boosted its position in TriNet Group by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 192,517 shares of the business services provider’s stock worth $18,937,000 after purchasing an additional 6,480 shares in the last quarter. Citigroup Inc. boosted its position in TriNet Group by 46.5% during the first quarter. Citigroup Inc. now owns 39,685 shares of the business services provider’s stock worth $3,904,000 after purchasing an additional 12,604 shares in the last quarter. MetLife Investment Management LLC boosted its position in TriNet Group by 53.6% during the first quarter. MetLife Investment Management LLC now owns 21,581 shares of the business services provider’s stock worth $2,123,000 after purchasing an additional 7,535 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of TriNet Group by 8.0% in the first quarter. Rhumbline Advisers now owns 44,248 shares of the business services provider’s stock worth $4,352,000 after acquiring an additional 3,280 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have commented on TNET shares. JPMorgan Chase & Co. boosted their target price on shares of TriNet Group from $90.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday. Credit Suisse Group reiterated a “neutral” rating and issued a $87.00 target price on shares of TriNet Group in a research report on Thursday, July 27th. Needham & Company LLC upped their price objective on TriNet Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. StockNews.com initiated coverage on TriNet Group in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, TD Cowen raised TriNet Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $95.00 to $125.00 in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, TriNet Group currently has a consensus rating of “Hold” and an average price target of $97.17.
Check Out Our Latest Research Report on TNET
TriNet Group Company Profile
TriNet Group, Inc provides human resources (HR) consulting services, employee benefit options, payroll services, and employment risk mitigation services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.
Further Reading
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