Credit Suisse Group set a $54.00 price objective on TriNet Group (NYSE:TNET) in a research note released on Tuesday, MarketBeat Ratings reports. The firm currently has a hold rating on the business services provider’s stock.
A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus lifted their price objective 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 lifted their price objective on TriNet Group from $51.00 to $55.00 and gave the stock a hold rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research upgraded TriNet Group from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research report on Saturday, August 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $59.00.
TNET traded up $0.14 on Tuesday, hitting $47.32. 284,854 shares of the company were exchanged, compared to its average volume of 327,879. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.20 and a quick ratio of 1.18. TriNet Group has a 12 month low of $38.26 and a 12 month high of $60.15. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 19.02 and a beta of 2.40.
TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Monday, October 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.20. TriNet Group had a return on equity of 63.58% and a net margin of 6.67%. The business had revenue of $228.00 million for the quarter, compared to analyst estimates of $202.65 million. During the same period last year, the company earned $0.56 EPS. TriNet Group’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that TriNet Group will post 2.54 EPS for the current year.
In other news, Director Martin Babinec sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $54.93, for a total value of $1,647,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Murphy sold 3,041 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $56.87, for a total value of $172,941.67. Following the completion of the transaction, the insider now owns 27,418 shares of the company’s stock, valued at approximately $1,559,261.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 175,605 shares of company stock worth $9,691,464. Corporate insiders own 38.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TNET. Acadian Asset Management LLC purchased a new position in shares of TriNet Group in the 2nd quarter valued at approximately $37,832,000. BlackRock Inc. lifted its stake in shares of TriNet Group by 16.5% in the 2nd quarter. BlackRock Inc. now owns 3,052,180 shares of the business services provider’s stock valued at $170,740,000 after purchasing an additional 432,894 shares during the period. Boston Advisors LLC purchased a new position in shares of TriNet Group in the 2nd quarter valued at approximately $23,653,000. Cantillon Capital Management LLC lifted its stake in shares of TriNet Group by 9.0% in the 2nd quarter. Cantillon Capital Management LLC now owns 4,514,891 shares of the business services provider’s stock valued at $252,563,000 after purchasing an additional 374,286 shares during the period. Finally, Emerald Advisers Inc. PA lifted its stake in shares of TriNet Group by 183.0% in the 2nd quarter. Emerald Advisers Inc. PA now owns 291,055 shares of the business services provider’s stock valued at $16,282,000 after purchasing an additional 188,215 shares during the period. Institutional investors own 85.59% of the company’s stock.
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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