TriNet Group Inc. (NYSE:TNET) VP John W. Turner sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $20.90, for a total value of $104,500.00. Following the completion of the transaction, the vice president now directly owns 4,167 shares in the company, valued at $87,090.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
TriNet Group Inc. (NYSE:TNET) opened at 21.05 on Tuesday. TriNet Group Inc. has a 12 month low of $11.10 and a 12 month high of $22.97. The stock’s 50 day moving average price is $20.99 and its 200-day moving average price is $19.12. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 36.93 and a beta of 2.74.
TriNet Group (NYSE:TNET) last posted its earnings results on Monday, August 1st. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $148.11 million. During the same quarter last year, the company earned $0.14 EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts anticipate that TriNet Group Inc. will post $1.16 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of TNET. Teacher Retirement System of Texas raised its stake in shares of TriNet Group by 23.6% in the second quarter. Teacher Retirement System of Texas now owns 5,895 shares of the company’s stock valued at $123,000 after buying an additional 1,127 shares during the last quarter. Legal & General Group Plc raised its stake in shares of TriNet Group by 31.9% in the first quarter. Legal & General Group Plc now owns 9,275 shares of the company’s stock valued at $131,000 after buying an additional 2,245 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of TriNet Group during the second quarter valued at approximately $205,000. Menta Capital LLC purchased a new stake in shares of TriNet Group during the first quarter valued at approximately $250,000. Finally, Sterling Ridge Capital Management LP purchased a new stake in shares of TriNet Group during the first quarter valued at approximately $264,000. 78.91% of the stock is owned by institutional investors.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 12th. Jefferies Group boosted their price target on TriNet Group from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 5th. Morgan Stanley lowered TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price target on the stock. in a research note on Thursday, August 4th. They noted that the move was a valuation call. Deutsche Bank AG boosted their price target on TriNet Group from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Finally, Piper Jaffray Cos. boosted their price target on TriNet Group from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. Four equities research 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 a consensus price target of $22.33.
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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