TriNet Group (TNET) Cut to “Hold” at ValuEngine

TriNet Group (NYSE:TNET) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other brokerages also recently issued reports on TNET. Stifel Nicolaus increased their price target on TriNet Group from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Morgan Stanley increased their price target on TriNet Group from $51.00 to $55.00 and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Credit Suisse Group began coverage on TriNet Group in a research report on Friday, August 10th. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Saturday, August 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. TriNet Group has an average rating of “Buy” and a consensus target price of $59.00.

TNET stock traded up $0.19 during mid-day trading on Thursday, reaching $47.18. 466,758 shares of the company’s stock were exchanged, compared to its average volume of 353,354. The company has a market capitalization of $3.37 billion, a P/E ratio of 27.43 and a beta of 2.40. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 1.13. TriNet Group has a 12-month low of $33.79 and a 12-month high of $60.15.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Monday, October 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.20. The company had revenue of $228.00 million for the quarter, compared to the consensus estimate of $202.65 million. TriNet Group had a return on equity of 63.58% and a net margin of 6.67%. TriNet Group’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share. On average, research analysts predict that TriNet Group will post 2.39 earnings per share for the current fiscal year.

In other TriNet Group news, CEO Burton M. Goldfield sold 17,563 shares of the stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $49.53, for a total transaction of $869,895.39. Following the completion of the transaction, the chief executive officer now owns 210,257 shares of the company’s stock, valued at $10,414,029.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Babinec sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $54.93, for a total value of $1,647,900.00. The disclosure for this sale can be found here. Insiders have sold 175,605 shares of company stock worth $9,691,464 in the last quarter. 38.90% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in TNET. Acadian Asset Management LLC acquired a new position in shares of TriNet Group during the second quarter valued at approximately $37,832,000. BlackRock Inc. raised its holdings in shares of TriNet Group by 16.5% during the second quarter. BlackRock Inc. now owns 3,052,180 shares of the business services provider’s stock valued at $170,740,000 after acquiring an additional 432,894 shares during the last quarter. Boston Advisors LLC acquired a new position in shares of TriNet Group during the second quarter valued at approximately $23,653,000. Cantillon Capital Management LLC raised its holdings in shares of TriNet Group by 9.0% during the second quarter. Cantillon Capital Management LLC now owns 4,514,891 shares of the business services provider’s stock valued at $252,563,000 after acquiring an additional 374,286 shares during the last quarter. Finally, Emerald Advisers Inc. PA raised its holdings in shares of TriNet Group by 183.0% during the second quarter. Emerald Advisers Inc. PA now owns 291,055 shares of the business services provider’s stock valued at $16,282,000 after acquiring an additional 188,215 shares during the last quarter. 85.59% of the stock is owned by institutional investors and hedge funds.

TriNet Group Company Profile

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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