Shares of TriNet (NYSE:TNET) reached a new 52-week high and low on Monday . The stock traded as low as $53.97 and last traded at $53.74, with a volume of 453860 shares trading hands. The stock had previously closed at $53.61.
Several analysts have weighed in on TNET shares. Zacks Investment Research upgraded TriNet from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Stifel Nicolaus boosted their price target on TriNet to $54.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley upgraded TriNet from an “underweight” rating to an “equal weight” rating and set a $46.00 price target on the stock in a research note on Wednesday, April 4th. Finally, ValuEngine upgraded TriNet from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. One research analyst has rated the stock with a sell rating, one has assigned 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 price target of $52.00.
The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $3.77 billion, a P/E ratio of 31.23 and a beta of 2.49.
TriNet (NYSE:TNET) last issued its earnings results on Tuesday, February 27th. The business services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.05). TriNet had a return on equity of 83.91% and a net margin of 6.09%. The company had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $198.33 million. analysts forecast that TriNet will post 2.36 earnings per share for the current fiscal year.
TriNet announced that its Board of Directors has approved a share repurchase program on Tuesday, February 27th that authorizes the company to repurchase $120.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Burton M. Goldfield sold 27,203 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $40.92, for a total value of $1,113,146.76. Following the sale, the chief executive officer now owns 30,766 shares in the company, valued at $1,258,944.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Burton M. Goldfield sold 25,049 shares of the company’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $52.51, for a total value of $1,315,322.99. Following the completion of the sale, the chief executive officer now owns 208,008 shares in the company, valued at approximately $10,922,500.08. The disclosure for this sale can be found here. Insiders sold 421,082 shares of company stock worth $19,950,218 in the last 90 days. Company insiders own 38.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd purchased a new stake in shares of TriNet in the first quarter worth about $142,000. SG Americas Securities LLC purchased a new stake in shares of TriNet in the first quarter worth about $144,000. Suntrust Banks Inc. purchased a new stake in shares of TriNet in the fourth quarter worth about $218,000. Intrust Bank NA purchased a new stake in shares of TriNet in the fourth quarter worth about $231,000. Finally, Pitcairn Co. purchased a new stake in shares of TriNet in the fourth quarter worth about $230,000. Hedge funds and other institutional investors own 88.10% of the company’s stock.
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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