TriNet Group Inc (NYSE:TNET) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 1,430,000 shares, a drop of 10.6% from the August 30th total of 1,600,000 shares. Based on an average daily volume of 347,800 shares, the short-interest ratio is currently 4.1 days. Approximately 3.2% of the company’s stock are sold short.
Several equities analysts have weighed in on the company. Berenberg Bank assumed coverage on TriNet Group in a report on Friday, September 13th. They set a “buy” rating and a $80.00 target price on the stock. ValuEngine lowered TriNet Group from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Zacks Investment Research lowered TriNet Group from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $64.56.
In other TriNet Group news, Director Paul Edward Chamberlain sold 700 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $58.26, for a total transaction of $40,782.00. Following the transaction, the director now directly owns 28,143 shares in the company, valued at $1,639,611.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martin Babinec sold 23,500 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $71.41, for a total value of $1,678,135.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,312 shares of company stock valued at $8,092,319. Insiders own 37.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of TNET. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of TriNet Group by 143.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,949 shares of the business services provider’s stock worth $133,000 after purchasing an additional 1,149 shares during the period. Capital Fund Management S.A. acquired a new stake in TriNet Group during the second quarter worth about $203,000. Advisor Group Inc. grew its position in TriNet Group by 5.2% during the second quarter. Advisor Group Inc. now owns 3,158 shares of the business services provider’s stock worth $215,000 after buying an additional 155 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in TriNet Group during the second quarter worth about $218,000. Finally, ARP Americas LP grew its position in TriNet Group by 5.7% during the second quarter. ARP Americas LP now owns 3,700 shares of the business services provider’s stock worth $251,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.
Shares of TriNet Group stock traded down $0.18 during trading on Monday, reaching $58.85. The company’s stock had a trading volume of 268,965 shares, compared to its average volume of 337,889. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.19 and a current ratio of 1.19. The business’s fifty day moving average price is $63.12 and its 200-day moving average price is $65.36. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 22.90 and a beta of 1.86. TriNet Group has a one year low of $38.74 and a one year high of $76.92.
TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $231.00 million for the quarter, compared to analyst estimates of $221.25 million. TriNet Group had a return on equity of 46.35% and a net margin of 5.16%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. Sell-side analysts anticipate that TriNet Group will post 2.98 EPS for the current year.
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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