TriNet Group Inc. (NYSE:TNET) VP John W. Turner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $21.85, for a total value of $109,250.00. Following the transaction, the vice president now owns 9,167 shares in the company, valued at approximately $200,298.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of TriNet Group Inc. (NYSE:TNET) opened at 21.12 on Tuesday. The company has a 50-day moving average price of $21.14 and a 200-day moving average price of $19.71. TriNet Group Inc. has a 12 month low of $11.10 and a 12 month high of $22.97. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 37.05 and a beta of 2.73.
TriNet Group (NYSE:TNET) last issued its earnings results on Monday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a return on equity of 439.36% and a net margin of 1.43%. The business earned $745.80 million during the quarter, compared to analysts’ expectations of $148.11 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. Analysts forecast that TriNet Group Inc. will post $1.16 earnings per share for the current fiscal year.
TNET has been the topic of several recent analyst reports. Deutsche Bank AG lifted their price objective on TriNet Group from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Morgan Stanley cut TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective on the stock. in a report on Thursday, August 4th. They noted that the move was a valuation call. Zacks Investment Research cut TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Friday, August 12th. Jefferies Group lifted their price objective on TriNet Group from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Piper Jaffray Cos. lifted their price objective on TriNet Group from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $22.33.
A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of TriNet Group by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 164,821 shares of the company’s stock worth $3,426,000 after buying an additional 9,551 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of TriNet Group by 44.0% in the first quarter. TIAA CREF Investment Management LLC now owns 254,108 shares of the company’s stock valued at $3,646,000 after buying an additional 77,687 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in shares of TriNet Group by 168.4% in the first quarter. A.R.T. Advisors LLC now owns 114,447 shares of the company’s stock valued at $1,642,000 after buying an additional 71,800 shares during the last quarter. Bogle Investment Management L P DE bought a new stake in shares of TriNet Group during the first quarter valued at $4,640,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of TriNet Group by 88,643.9% in the first quarter. JPMorgan Chase & Co. now owns 267,119 shares of the company’s stock valued at $3,833,000 after buying an additional 266,818 shares during the last quarter. 78.91% of the stock is owned by institutional investors and hedge funds.
TriNet Group Company Profile
TriNet Group, Inc (TriNet) is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s human resource solutions include offerings, such as multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; federal, state and local labor, employment and benefit law compliance; risk mitigation, including employment practices claims management; expense and time management, and human capital consulting.
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