TriNet Group Inc (NYSE:TNET) VP Edward Griese sold 3,830 shares of TriNet Group stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $56.87, for a total transaction of $217,812.10. Following the completion of the sale, the vice president now directly owns 31,046 shares in the company, valued at approximately $1,765,586.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE TNET traded up $0.34 during midday trading on Friday, hitting $58.34. The company’s stock had a trading volume of 350,670 shares, compared to its average volume of 358,697. TriNet Group Inc has a one year low of $31.98 and a one year high of $60.15. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.30. The firm has a market cap of $4.00 billion, a P/E ratio of 33.92 and a beta of 2.38.
TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Monday, July 30th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.27. TriNet Group had a net margin of 6.54% and a return on equity of 74.08%. The company had revenue of $220.00 million for the quarter, compared to analyst estimates of $208.41 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. equities analysts expect that TriNet Group Inc will post 2.39 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB raised its position in shares of TriNet Group by 31.9% in the second quarter. Xact Kapitalforvaltning AB now owns 7,037 shares of the business services provider’s stock valued at $394,000 after purchasing an additional 1,700 shares during the period. Alps Advisors Inc. raised its position in shares of TriNet Group by 29.3% in the second quarter. Alps Advisors Inc. now owns 13,296 shares of the business services provider’s stock valued at $590,000 after purchasing an additional 3,014 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of TriNet Group by 85.7% in the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 24,700 shares of the business services provider’s stock valued at $1,144,000 after purchasing an additional 11,400 shares during the period. Kaizen Advisory LLC raised its position in shares of TriNet Group by 299.3% in the second quarter. Kaizen Advisory LLC now owns 26,711 shares of the business services provider’s stock valued at $1,494,000 after purchasing an additional 20,022 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of TriNet Group in the first quarter valued at approximately $144,000. 88.38% of the stock is currently owned by institutional investors.
Several analysts have commented on TNET shares. Credit Suisse Group started coverage on shares of TriNet Group in a research report on Friday, August 10th. They issued a “neutral” rating and a $65.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of 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 shares of 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 raised shares of 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $61.75.
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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