TriNet Group, Inc. (NYSE:TNET) insider Michael P. Murphy sold 631 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $42.40, for a total value of $26,754.40. Following the sale, the insider now owns 12,553 shares of the company’s stock, valued at approximately $532,247.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
TriNet Group, Inc. (NYSE TNET) opened at $43.99 on Tuesday. TriNet Group, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $45.11. The stock has a market capitalization of $3,047.62, a price-to-earnings ratio of 26.58 and a beta of 3.02. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.18 and a quick ratio of 1.18.
TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.30. The business had revenue of $205.90 million for the quarter, compared to the consensus estimate of $174.89 million. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. sell-side analysts anticipate that TriNet Group, Inc. will post 1.77 earnings per share for the current fiscal year.
Several research firms have recently issued reports on TNET. BidaskClub raised TriNet Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research lowered TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 21st. Morgan Stanley raised their price objective on TriNet Group from $31.00 to $32.00 and gave the company an “underweight” rating in a research note on Friday, November 3rd. Finally, J P Morgan Chase & Co lowered TriNet Group from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $33.00 to $36.00 in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $38.00.
Several hedge funds have recently modified their holdings of TNET. New York State Common Retirement Fund raised its holdings in TriNet Group by 25.0% in the 2nd quarter. New York State Common Retirement Fund now owns 68,287 shares of the business services provider’s stock worth $2,236,000 after purchasing an additional 13,651 shares during the period. Ameriprise Financial Inc. acquired a new position in TriNet Group in the 2nd quarter worth about $2,201,000. Chicago Equity Partners LLC raised its holdings in TriNet Group by 41.8% in the 2nd quarter. Chicago Equity Partners LLC now owns 108,150 shares of the business services provider’s stock worth $3,541,000 after purchasing an additional 31,900 shares during the period. Russell Investments Group Ltd. raised its holdings in TriNet Group by 14.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 35,587 shares of the business services provider’s stock worth $1,165,000 after purchasing an additional 4,368 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in TriNet Group in the 3rd quarter worth about $827,000. 56.52% of the stock is owned by institutional investors and hedge funds.
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About TriNet Group
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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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