Equities research analysts predict that TriNet (NYSE:TNET) will report $216.20 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for TriNet’s earnings, with the highest sales estimate coming in at $218.94 million and the lowest estimate coming in at $212.30 million. TriNet posted sales of $198.97 million in the same quarter last year, which suggests a positive year over year growth rate of 8.7%. The business is scheduled to announce its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that TriNet will report full year sales of $216.20 million for the current year, with estimates ranging from $851.40 million to $865.04 million. For the next fiscal year, analysts expect that the firm will report sales of $917.51 million per share, with estimates ranging from $851.40 million to $944.98 million. Zacks’ sales calculations are an average based on a survey of research firms that cover TriNet.
TriNet (NYSE:TNET) last issued its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.05). The business had revenue of $204.00 million during the quarter, compared to the consensus estimate of $198.33 million. TriNet had a return on equity of 102.76% and a net margin of 5.42%.
TNET has been the topic of several recent analyst reports. Zacks Investment Research downgraded TriNet from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 5th. Stifel Nicolaus lifted their price target on TriNet to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Morgan Stanley upgraded TriNet from an “underweight” rating to an “equal weight” rating and set a $46.00 price objective on the stock in a research report on Wednesday, April 4th. Finally, ValuEngine upgraded TriNet from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. TriNet presently has an average rating of “Buy” and a consensus target price of $44.20.
In other news, Director Martin Babinec sold 44,088 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $46.80, for a total transaction of $2,063,318.40. Following the sale, the director now directly owns 7,588 shares in the company, valued at $355,118.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Wayne B. Lowell sold 14,663 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $45.67, for a total value of $669,659.21. Following the sale, the director now owns 7,588 shares in the company, valued at $346,543.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,609 shares of company stock worth $8,132,409. 41.80% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TNET. Atairos Group Inc. bought a new stake in shares of TriNet during the fourth quarter valued at approximately $864,822,000. Hennessy Advisors Inc. grew its position in TriNet by 480.7% in the fourth quarter. Hennessy Advisors Inc. now owns 895,500 shares of the business services provider’s stock valued at $39,706,000 after acquiring an additional 741,300 shares during the period. Cramer Rosenthal Mcglynn LLC grew its position in TriNet by 70.6% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 965,930 shares of the business services provider’s stock valued at $32,475,000 after acquiring an additional 399,745 shares during the period. Acadian Asset Management LLC grew its position in TriNet by 240.3% in the fourth quarter. Acadian Asset Management LLC now owns 423,687 shares of the business services provider’s stock valued at $18,786,000 after acquiring an additional 299,166 shares during the period. Finally, Russell Investments Group Ltd. grew its position in TriNet by 644.8% in the third quarter. Russell Investments Group Ltd. now owns 265,053 shares of the business services provider’s stock valued at $8,911,000 after acquiring an additional 229,466 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.
NYSE TNET traded up $0.31 during trading on Monday, hitting $46.98. The company’s stock had a trading volume of 215,196 shares, compared to its average volume of 387,161. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.86. The company has a market cap of $3,269.48, a P/E ratio of 27.31 and a beta of 2.50. TriNet has a 52 week low of $27.27 and a 52 week high of $49.00.
TriNet announced that its board has initiated a share repurchase plan on Tuesday, February 27th that permits the company to buyback $120.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
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TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. The company offers 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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