TriNet Group Inc (NYSE:TNET)’s share price traded up 3.3% during trading on Thursday after Stifel Nicolaus raised their price target on the stock to $54.00. Stifel Nicolaus currently has a buy rating on the stock. TriNet Group traded as high as $48.30 and last traded at $45.63. 559,877 shares changed hands during mid-day trading, an increase of 57% from the average session volume of 356,230 shares. The stock had previously closed at $47.17.
A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of TriNet Group from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. BidaskClub raised shares of TriNet Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, Morgan Stanley increased their target price on shares of TriNet Group from $31.00 to $32.00 and gave the company an “underweight” rating in a report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $40.00.
In related news, Director Martin Babinec sold 36,500 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $44.21, for a total transaction of $1,613,665.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Burton M. Goldfield sold 17,809 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $43.52, for a total transaction of $775,047.68. Following the transaction, the chief executive officer now directly owns 32,234 shares in the company, valued at approximately $1,402,823.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,022 shares of company stock worth $7,908,421. 42.40% of the stock is owned by insiders.
The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $2,889.20, a PE ratio of 24.35 and a beta of 2.78.
TriNet Group announced that its board has approved a stock buyback program on Tuesday, February 27th that authorizes the company to repurchase $120.00 million in shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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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