TriNet Group Inc (NYSE:TNET) CEO Burton M. Goldfield sold 33,820 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $56.49, for a total transaction of $1,910,491.80. Following the completion of the transaction, the chief executive officer now owns 208,472 shares of the company’s stock, valued at approximately $11,776,583.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of TriNet Group opened at $55.94 on Friday, according to MarketBeat. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.41. TriNet Group Inc has a 12 month low of $31.52 and a 12 month high of $57.13. The firm has a market cap of $3.86 billion, a P/E ratio of 27.15 and a beta of 2.48.
TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Monday, April 30th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.15. TriNet Group had a net margin of 6.09% and a return on equity of 83.91%. The firm had revenue of $220.00 million for the quarter, compared to analyst estimates of $217.55 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. equities research analysts predict that TriNet Group Inc will post 2.36 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Advisory Inc. bought a new stake in TriNet Group during the first quarter worth $232,000. Mount Yale Investment Advisors LLC bought a new stake in TriNet Group during the first quarter worth $151,000. Summit Trail Advisors LLC raised its position in TriNet Group by 30.6% during the first quarter. Summit Trail Advisors LLC now owns 13,278 shares of the business services provider’s stock worth $537,000 after acquiring an additional 3,114 shares in the last quarter. Navellier & Associates Inc raised its position in TriNet Group by 40.7% during the first quarter. Navellier & Associates Inc now owns 19,120 shares of the business services provider’s stock worth $886,000 after acquiring an additional 5,531 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in TriNet Group during the first quarter worth $684,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on TNET. Zacks Investment Research cut shares of TriNet Group from a “strong-buy” rating to a “sell” rating in a report on Thursday, May 3rd. Morgan Stanley increased their target price on shares of TriNet Group from $46.00 to $48.00 and gave the stock a “hold” rating in a report on Tuesday, May 1st. Stifel Nicolaus restated a “buy” rating and set a $59.00 target price on shares of TriNet Group in a report on Thursday, April 12th. Finally, ValuEngine upgraded shares of TriNet Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $52.00.
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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