StockNews.com began coverage on shares of TriNet Group (NYSE:TNET – Free Report) in a research report released on Thursday. The brokerage issued a buy rating on the business services provider’s stock.
Several other analysts also recently weighed in on TNET. Needham & Company LLC increased their target price on TriNet Group from $115.00 to $120.00 and gave the company a buy rating in a research note on Thursday, July 27th. Credit Suisse Group restated a neutral rating and set a $87.00 target price on shares of TriNet Group in a research note on Thursday, July 27th. Finally, TD Cowen upgraded TriNet Group from a market perform rating to an outperform rating and increased their target price for the company from $95.00 to $125.00 in a research note on Monday, August 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $95.20.
Read Our Latest Stock Analysis on TNET
TriNet Group Stock Performance
TriNet Group (NYSE:TNET – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. The business had revenue of $341.00 million for the quarter, compared to analyst estimates of $310.34 million. TriNet Group had a return on equity of 45.40% and a net margin of 6.91%. As a group, equities research analysts expect that TriNet Group will post 6.09 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other TriNet Group news, CEO Burton M. Goldfield sold 516 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $106.01, for a total value of $54,701.16. Following the completion of the sale, the chief executive officer now owns 176,239 shares in the company, valued at approximately $18,683,096.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other TriNet Group news, CEO Burton M. Goldfield sold 516 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $106.01, for a total value of $54,701.16. Following the completion of the sale, the chief executive officer now owns 176,239 shares in the company, valued at approximately $18,683,096.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Burton M. Goldfield sold 1,509 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $106.38, for a total value of $160,527.42. Following the completion of the sale, the chief executive officer now owns 170,703 shares of the company’s stock, valued at approximately $18,159,385.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,396,287 shares of company stock worth $363,152,105. 37.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On TriNet Group
Several hedge funds and other institutional investors have recently modified their holdings of TNET. Avion Wealth lifted its position in shares of TriNet Group by 85.3% during the 2nd quarter. Avion Wealth now owns 354 shares of the business services provider’s stock worth $33,000 after buying an additional 163 shares during the period. Amundi acquired a new stake in TriNet Group during the 4th quarter valued at $33,000. Nisa Investment Advisors LLC increased its holdings in TriNet Group by 2,866.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 445 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 430 shares in the last quarter. Ronald Blue Trust Inc. increased its holdings in TriNet Group by 24.0% during the 1st quarter. Ronald Blue Trust Inc. now owns 630 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 122 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in TriNet Group by 78.7% during the 2nd quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 273 shares in the last quarter. Institutional investors own 93.09% of the company’s stock.
TriNet Group Company Profile
TriNet Group, Inc provides human resources (HR) consulting services, employee benefit options, payroll services, and employment risk mitigation services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.
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