TriNet Group Inc (NYSE:TNET) CEO Burton M. Goldfield sold 17,809 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $43.52, for a total transaction of $775,047.68. Following the sale, the chief executive officer now owns 32,234 shares of the company’s stock, valued at $1,402,823.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
TriNet Group Inc (NYSE TNET) traded up $0.41 during trading on Friday, hitting $42.07. 280,474 shares of the stock were exchanged, compared to its average volume of 260,807. The company has a market cap of $2,894.76, a P/E ratio of 22.26 and a beta of 3.01. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.00. TriNet Group Inc has a fifty-two week low of $24.09 and a fifty-two week high of $45.25.
TriNet Group (NYSE:TNET) last released its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 4.15% and a return on equity of 156.96%. TriNet Group’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. equities research analysts anticipate that TriNet Group Inc will post 1.77 EPS for the current year.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of TriNet Group from a “sell” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research note on Thursday, November 9th. BidaskClub raised shares of TriNet Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 5th. Finally, Morgan Stanley raised their price objective on shares of TriNet Group from $31.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. TriNet Group presently has an average rating of “Hold” and a consensus target price of $38.00.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in TriNet Group by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 5,417 shares of the business services provider’s stock worth $177,000 after acquiring an additional 813 shares during the period. BNP Paribas Arbitrage SA raised its holdings in TriNet Group by 596.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock worth $187,000 after acquiring an additional 4,886 shares during the period. SG Americas Securities LLC bought a new position in TriNet Group in the 2nd quarter worth $194,000. Sei Investments Co. raised its holdings in TriNet Group by 112.0% in the 3rd quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock worth $266,000 after acquiring an additional 4,181 shares during the period. Finally, ARP Americas LLC bought a new position in TriNet Group in the 3rd quarter worth $286,000. Hedge funds and other institutional investors own 56.52% of the company’s stock.
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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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