TriNet Group, Inc. (NYSE:TNET – Get Free Report) Director Ralph A. Clark sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $110.87, for a total transaction of $110,870.00. Following the transaction, the director now owns 7,741 shares in the company, valued at approximately $858,244.67. The sale was disclosed in a filing with the SEC, which is available at this link.
TriNet Group Stock Performance
NYSE TNET traded down $1.59 during mid-day trading on Tuesday, reaching $109.38. 515,704 shares of the stock were exchanged, compared to its average volume of 453,738. The business’s 50 day moving average is $101.06 and its 200-day moving average is $92.31. TriNet Group, Inc. has a 1 year low of $60.60 and a 1 year high of $112.13. The company has a market capitalization of $6.53 billion, a P/E ratio of 19.99 and a beta of 1.16. 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 (NYSE:TNET – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.45. The business had revenue of $341.00 million for the quarter, compared to the consensus estimate of $310.34 million. TriNet Group had a net margin of 6.91% and a return on equity of 45.40%. On average, equities research analysts forecast that TriNet Group, Inc. will post 6.09 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
TNET has been the topic of a number of recent analyst reports. Credit Suisse Group restated a “neutral” rating and set a $87.00 price target on shares of TriNet Group in a research note on Thursday, July 27th. StockNews.com initiated coverage on shares of TriNet Group in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Needham & Company LLC increased their price objective on shares of TriNet Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. JPMorgan Chase & Co. increased their price objective on shares of TriNet Group from $90.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 22nd. Finally, TD Cowen upgraded shares of TriNet Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $95.00 to $125.00 in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $97.17.
Read Our Latest Stock Analysis on TriNet Group
Hedge Funds Weigh In On TriNet Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TNET. Avion Wealth lifted its holdings in TriNet Group by 85.3% during the second quarter. Avion Wealth now owns 354 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 163 shares in the last quarter. Amundi purchased a new position in TriNet Group during the fourth quarter valued at $33,000. Nisa Investment Advisors LLC lifted its holdings in TriNet Group by 2,866.7% during the first quarter. Nisa Investment Advisors LLC now owns 445 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 430 shares in the last quarter. Ronald Blue Trust Inc. raised its position in shares of TriNet Group by 24.0% in the first quarter. Ronald Blue Trust Inc. now owns 630 shares of the business services provider’s stock valued at $43,000 after buying an additional 122 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of TriNet Group by 78.7% in the second quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock valued at $48,000 after buying an additional 273 shares during the last quarter. 93.58% of the stock is owned by hedge funds and other institutional investors.
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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