TriNet Group Inc. (NYSE:TNET) insider William Porter sold 6,000 shares of the stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $22.00, for a total transaction of $132,000.00. Following the transaction, the insider now directly owns 544,851 shares of the company’s stock, valued at approximately $11,986,722. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of TriNet Group Inc. (NYSE:TNET) opened at 21.12 on Tuesday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 37.05 and a beta of 2.73. The company has a 50-day moving average of $21.14 and a 200-day moving average of $19.71. TriNet Group Inc. has a 52-week low of $11.10 and a 52-week high of $22.97.
TriNet Group (NYSE:TNET) last released its quarterly earnings data on Monday, August 1st. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a net margin of 1.43% and a return on equity of 439.36%. The company earned $745.80 million during the quarter, compared to analysts’ expectations of $148.11 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities research analysts anticipate that TriNet Group Inc. will post $1.16 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted 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 worth $123,000 after buying an additional 1,127 shares during the last quarter. Legal & General Group Plc boosted 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 worth $131,000 after buying an additional 2,245 shares during the last quarter. Principal Financial Group Inc. purchased a new position in TriNet Group during the second quarter worth $205,000. Menta Capital LLC purchased a new position in TriNet Group during the first quarter worth $250,000. Finally, Sterling Ridge Capital Management LP purchased a new position in TriNet Group during the first quarter worth $264,000. 78.91% of the stock is owned by institutional investors.
TNET has been the subject of several research reports. Deutsche Bank AG increased their price objective on shares of TriNet Group from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Morgan Stanley downgraded shares of TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price target for the company. in a report on Thursday, August 4th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Friday, August 12th. Jefferies Group increased their price target on shares of TriNet Group from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Piper Jaffray Cos. increased their price target on shares of TriNet Group from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.33.
TriNet Group Company Profile
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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