Zacks Investment Research Upgrades TriNet Group (TNET) to “Hold”

Zacks Investment Research upgraded shares of TriNet Group (NYSE:TNET) from a sell rating to a hold rating in a research note published on Wednesday, February 7th.

According to Zacks, “TriNet Group, Inc. is a provider of a comprehensive human resources solution for small to medium-sized businesses. It offers payroll, tax administration, risk protection, performance management, compensation consulting, and employee benefit plans. The Company serves banking and financial services, biotech and life sciences, technology, non-profits, professional services, venture capital, and advertising and marketing industries. TriNet Group, Inc. is headquartered in San Leandro, California. “

TNET has been the topic of several other reports. BidaskClub lowered shares of TriNet Group from a buy rating to a hold rating in a report on Wednesday, October 25th. Morgan Stanley lifted their price target on shares of TriNet Group from $31.00 to $32.00 and gave the stock an underweight rating in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $38.00.

TriNet Group (TNET) traded up $0.45 during trading on Wednesday, hitting $41.66. 259,183 shares of the stock traded hands, compared to its average volume of 338,915. 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 has a 1 year low of $25.55 and a 1 year high of $45.25. The company has a market capitalization of $2,894.75, a P/E ratio of 25.25 and a beta of 2.78.

In related news, Director Martin Babinec sold 36,500 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $43.53, for a total transaction of $1,588,845.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Burton M. Goldfield sold 17,809 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $43.52, for a total transaction of $775,047.68. Following the transaction, the chief executive officer now owns 32,234 shares of the company’s stock, valued at approximately $1,402,823.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,118 shares of company stock valued at $6,315,573. Insiders own 42.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position in shares of TriNet Group by 6.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 24,641 shares of the business services provider’s stock worth $1,093,000 after purchasing an additional 1,412 shares during the last quarter. ETRADE Capital Management LLC grew its stake in TriNet Group by 4.1% during the 4th quarter. ETRADE Capital Management LLC now owns 40,766 shares of the business services provider’s stock valued at $1,808,000 after acquiring an additional 1,611 shares in the last quarter. California Public Employees Retirement System grew its stake in TriNet Group by 6.0% during the 4th quarter. California Public Employees Retirement System now owns 31,988 shares of the business services provider’s stock valued at $1,418,000 after acquiring an additional 1,800 shares in the last quarter. American International Group Inc. grew its stake in TriNet Group by 8.1% during the 3rd quarter. American International Group Inc. now owns 27,419 shares of the business services provider’s stock valued at $922,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Capital Fund Management S.A. grew its stake in TriNet Group by 25.6% during the 4th quarter. Capital Fund Management S.A. now owns 10,800 shares of the business services provider’s stock valued at $479,000 after acquiring an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 58.00% 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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