TriNet Group, Inc. (NYSE:TNET) CFO Kelly L. Tuminelli Sells 4,253 Shares of Stock

TriNet Group, Inc. (NYSE:TNET – Get Free Report) CFO Kelly L. Tuminelli sold 4,253 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $111.49, for a total value of $474,166.97. Following the transaction, the chief financial officer now directly owns 90,823 shares of the company’s stock, valued at $10,125,856.27. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

TriNet Group Stock Down 1.4 %

Shares of NYSE TNET opened at $109.38 on Wednesday. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 19.71 and a beta of 1.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.28 and a quick ratio of 1.28. The business has a 50-day moving average of $101.35 and a two-hundred day moving average of $92.43. TriNet Group, Inc. has a 1 year low of $60.60 and a 1 year high of $112.13.

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TriNet Group (NYSE:TNET – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.45. The company had revenue of $341.00 million during the quarter, compared to the consensus estimate of $310.34 million. TriNet Group had a return on equity of 45.40% and a net margin of 6.91%. On average, analysts forecast that TriNet Group, Inc. will post 6.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TNET has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on TriNet Group from $90.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 22nd. Needham & Company LLC boosted their target price on TriNet Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. StockNews.com initiated coverage on TriNet Group in a research note on Thursday, August 17th. They set a “buy” rating for the company. TD Cowen raised TriNet Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $95.00 to $125.00 in a research note on Monday, August 7th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $87.00 target price on shares of TriNet Group in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $97.17.

Read Our Latest Stock Report on TriNet Group

Institutional Investors Weigh In On TriNet Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TNET. Mawer Investment Management Ltd. boosted its holdings in shares of TriNet Group by 66.3% in the first quarter. Mawer Investment Management Ltd. now owns 4,394,957 shares of the business services provider’s stock valued at $354,277,000 after acquiring an additional 1,752,532 shares during the period. Wellington Management Group LLP boosted its holdings in shares of TriNet Group by 11.4% in the first quarter. Wellington Management Group LLP now owns 4,190,526 shares of the business services provider’s stock valued at $412,181,000 after acquiring an additional 430,430 shares during the period. Cantillon Capital Management LLC boosted its holdings in shares of TriNet Group by 2.0% in the second quarter. Cantillon Capital Management LLC now owns 3,482,339 shares of the business services provider’s stock valued at $330,718,000 after acquiring an additional 66,864 shares during the period. BlackRock Inc. boosted its holdings in shares of TriNet Group by 2.4% in the second quarter. BlackRock Inc. now owns 2,607,681 shares of the business services provider’s stock valued at $247,651,000 after acquiring an additional 61,569 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of TriNet Group by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,403,490 shares of the business services provider’s stock valued at $113,130,000 after acquiring an additional 48,461 shares during the period. Hedge funds and other institutional investors own 93.58% of the company’s stock.

About TriNet Group

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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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