TriNet Group Inc (NYSE:TNET) CEO Burton M. Goldfield sold 27,521 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $60.87, for a total transaction of $1,675,203.27. Following the completion of the sale, the chief executive officer now directly owns 173,985 shares of the company’s stock, valued at approximately $10,590,466.95. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of TriNet Group stock opened at $61.15 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $4.31 billion, a P/E ratio of 23.79 and a beta of 2.05. TriNet Group Inc has a 1 year low of $38.74 and a 1 year high of $62.71.
TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, February 14th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.16. The company had revenue of $225.00 million during the quarter, compared to analyst estimates of $211.58 million. TriNet Group had a net margin of 5.48% and a return on equity of 56.98%. TriNet Group’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. Equities research analysts expect that TriNet Group Inc will post 2.66 earnings per share for the current fiscal year.
TNET has been the subject of several analyst reports. Credit Suisse Group set a $54.00 price target on shares of TriNet Group and gave the company a “hold” rating in a research report on Tuesday, October 30th. ValuEngine cut shares of TriNet Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research cut shares of TriNet Group from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research report on Saturday, January 26th. William Blair raised shares of TriNet Group from a “market perform” rating to an “outperform” rating and set a $46.80 target price for the company in a research report on Tuesday, February 12th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised shares of TriNet Group from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $53.00 to $60.00 in a research report on Friday, February 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $55.63.
Several institutional investors have recently modified their holdings of the stock. Sapphire Star Partners LP increased its stake in shares of TriNet Group by 2.7% in the 4th quarter. Sapphire Star Partners LP now owns 8,203 shares of the business services provider’s stock worth $345,000 after acquiring an additional 212 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TriNet Group by 21.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,039 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 546 shares in the last quarter. ETRADE Capital Management LLC increased its stake in TriNet Group by 2.7% during the 4th quarter. ETRADE Capital Management LLC now owns 28,628 shares of the business services provider’s stock valued at $1,201,000 after purchasing an additional 741 shares in the last quarter. Brown Advisory Inc. increased its stake in TriNet Group by 22.2% during the 4th quarter. Brown Advisory Inc. now owns 5,964 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Strs Ohio increased its stake in TriNet Group by 4.8% during the 4th quarter. Strs Ohio now owns 23,800 shares of the business services provider’s stock valued at $998,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 86.75% of the company’s stock.
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About TriNet Group
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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