TriNet Group, Inc. (TNET) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of TriNet Group, Inc. (NYSE:TNET) from a hold rating to a buy rating in a report released on Thursday.

TNET has been the topic of several other reports. Zacks Investment Research upgraded shares of TriNet Group from a hold rating to a buy rating and set a $32.00 target price on the stock in a research report on Wednesday, March 8th. Stifel Nicolaus lifted their target price on shares of TriNet Group from $31.00 to $34.00 and gave the company a buy rating in a research report on Wednesday, March 1st. Deutsche Bank AG lowered shares of TriNet Group from a buy rating to a hold rating and set a $30.00 target price on the stock. in a research report on Wednesday, April 19th. Finally, TheStreet upgraded shares of TriNet Group from a c rating to a b rating in a research report on Monday, March 27th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $26.86.

Analyst Recommendations for TriNet Group (NYSE:TNET)

Shares of TriNet Group (TNET) opened at 32.21 on Thursday. The company’s 50-day moving average is $31.08 and its 200 day moving average is $27.93. TriNet Group has a 1-year low of $17.78 and a 1-year high of $33.49. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 29.34 and a beta of 2.94.

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In other TriNet Group news, Director Martin Babinec sold 14,200 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $32.00, for a total value of $454,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Brady Mickelsen sold 6,000 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $31.59, for a total transaction of $189,540.00. Following the completion of the transaction, the senior vice president now owns 30,791 shares in the company, valued at $972,687.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,514 shares of company stock worth $7,640,042. Company insiders own 41.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in TNET. State Street Corp raised its position in TriNet Group by 6.6% in the fourth quarter. State Street Corp now owns 765,028 shares of the business services provider’s stock worth $19,598,000 after buying an additional 47,378 shares during the period. Allianz Asset Management AG raised its position in TriNet Group by 196.3% in the fourth quarter. Allianz Asset Management AG now owns 93,270 shares of the business services provider’s stock worth $2,390,000 after buying an additional 61,790 shares during the period. Fiera Capital Corp purchased a new position in TriNet Group during the fourth quarter worth approximately $9,312,000. Dimensional Fund Advisors LP raised its position in TriNet Group by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 906,647 shares of the business services provider’s stock worth $23,229,000 after buying an additional 74,584 shares during the period. Finally, Teachers Advisors LLC raised its position in TriNet Group by 123.4% in the fourth quarter. Teachers Advisors LLC now owns 175,545 shares of the business services provider’s stock worth $4,497,000 after buying an additional 96,971 shares during the period. Hedge funds and other institutional investors own 53.22% of the company’s stock.

About TriNet Group

TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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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