TriNet Group Inc. (NYSE:TNET) Director Kenneth A. Goldman sold 40,000 shares of TriNet Group stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $20.70, for a total value of $828,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $414,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of TriNet Group Inc. (NYSE:TNET) opened at 21.24 on Friday. The company’s 50-day moving average price is $20.99 and its 200 day moving average price is $18.99. TriNet Group Inc. has a 12-month low of $11.10 and a 12-month high of $22.97. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 37.26 and a beta of 2.74.
TriNet Group (NYSE:TNET) last announced its earnings results on Monday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The business earned $745.80 million during the quarter, compared to analyst estimates of $148.11 million. TriNet Group had a return on equity of 439.36% and a net margin of 1.43%. TriNet Group’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. Equities analysts predict that TriNet Group Inc. will post $1.16 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in TriNet Group by 23.6% in the second quarter. Teacher Retirement System of Texas now owns 5,895 shares of the company’s stock valued at $123,000 after buying an additional 1,127 shares during the period. Legal & General Group Plc raised its position in TriNet Group by 31.9% in the first quarter. Legal & General Group Plc now owns 9,275 shares of the company’s stock valued at $131,000 after buying an additional 2,245 shares during the period. Principal Financial Group Inc. acquired a new position in TriNet Group during the second quarter valued at $205,000. Menta Capital LLC acquired a new position in TriNet Group during the first quarter valued at $250,000. Finally, Sterling Ridge Capital Management LP acquired a new position in TriNet Group during the first quarter valued at $264,000. 78.91% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the company. Jefferies Group lifted their target price on TriNet Group from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Zacks Investment Research cut TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 12th. Morgan Stanley cut TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective for the company. in a research report on Thursday, August 4th. They noted that the move was a valuation call. Deutsche Bank AG upped their price objective on TriNet Group from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Finally, Piper Jaffray Cos. upped their price objective on TriNet Group from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $22.33.
About TriNet Group
TriNet Group, Inc (TriNet) is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s human resource solutions include offerings, such as multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; federal, state and local labor, employment and benefit law compliance; risk mitigation, including employment practices claims management; expense and time management, and human capital consulting.
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