TriNet (TNET) Hits New 52-Week High and Low at $52.03

TriNet (NYSE:TNET) hit a new 52-week high and low on Tuesday . The company traded as low as $52.03 and last traded at $51.03, with a volume of 235299 shares trading hands. The stock had previously closed at $51.28.

A number of equities research analysts have recently weighed in on TNET shares. Stifel Nicolaus lifted their target price on shares of TriNet to $54.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. ValuEngine raised shares of TriNet from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Morgan Stanley raised shares of TriNet from an “underweight” rating to an “equal weight” rating and set a $46.00 target price on the stock in a research note on Wednesday, April 4th. Finally, Zacks Investment Research raised shares of TriNet from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. TriNet has an average rating of “Buy” and an average price target of $45.20.

The company has a market cap of $3,576.32, a price-to-earnings ratio of 29.73 and a beta of 2.50. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.13 and a current ratio of 1.13.

TriNet (NYSE:TNET) last announced its earnings results on Tuesday, February 27th. The business services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.05). The company had revenue of $204.00 million for the quarter, compared to the consensus estimate of $198.33 million. TriNet had a net margin of 5.42% and a return on equity of 102.76%. equities analysts predict that TriNet will post 2.19 earnings per share for the current year.

TriNet announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 27th that authorizes the company to buyback $120.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

In related news, Director Martin Babinec sold 36,500 shares of TriNet stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $43.67, for a total transaction of $1,593,955.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Burton M. Goldfield sold 17,809 shares of TriNet stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $49.43, for a total transaction of $880,298.87. Following the transaction, the chief executive officer now directly owns 211,074 shares of the company’s stock, valued at $10,433,387.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 392,114 shares of company stock valued at $18,113,748. 41.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TNET. New York State Common Retirement Fund lifted its position in TriNet by 4.0% during the 3rd quarter. New York State Common Retirement Fund now owns 70,987 shares of the business services provider’s stock valued at $2,387,000 after acquiring an additional 2,700 shares during the period. Bank of New York Mellon Corp lifted its position in TriNet by 8.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 213,960 shares of the business services provider’s stock valued at $7,193,000 after acquiring an additional 16,135 shares during the period. Legal & General Group Plc lifted its position in TriNet by 32.0% during the 3rd quarter. Legal & General Group Plc now owns 19,310 shares of the business services provider’s stock valued at $652,000 after acquiring an additional 4,682 shares during the period. Wells Fargo & Company MN lifted its position in TriNet by 246.0% during the 3rd quarter. Wells Fargo & Company MN now owns 129,332 shares of the business services provider’s stock valued at $4,349,000 after acquiring an additional 91,954 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in TriNet by 9.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,119,615 shares of the business services provider’s stock valued at $37,644,000 after acquiring an additional 92,991 shares during the period. 86.37% of the stock is owned by institutional investors.

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TriNet Company Profile

TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. 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 benefit law compliance; and other services.

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