TriNet Group Inc (NYSE:TNET) has been given an average rating of “Hold” by the seven research firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $56.36.
Separately, Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th.
Shares of NYSE:TNET traded down $0.04 during mid-day trading on Friday, reaching $71.36. The stock had a trading volume of 7,241 shares, compared to its average volume of 223,926. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 27.80 and a beta of 1.89. The stock has a 50 day moving average of $67.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. TriNet Group has a twelve month low of $38.74 and a twelve month high of $72.67.
TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Monday, April 29th. The business services provider reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $233.65 million. TriNet Group had a net margin of 5.62% and a return on equity of 54.21%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, equities research analysts expect that TriNet Group will post 2.92 EPS for the current fiscal year.
In other news, CEO Burton M. Goldfield sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $59.20, for a total transaction of $888,000.00. Following the completion of the transaction, the chief executive officer now directly owns 343,751 shares of the company’s stock, valued at approximately $20,350,059.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edward Griese sold 1,403 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $59.20, for a total transaction of $83,057.60. Following the completion of the transaction, the vice president now directly owns 68,155 shares of the company’s stock, valued at $4,034,776. The disclosure for this sale can be found here. Insiders have sold a total of 236,846 shares of company stock worth $15,279,492 over the last 90 days. Corporate insiders own 37.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Hilton Capital Management LLC acquired a new position in TriNet Group in the first quarter valued at about $79,000. Advisory Services Network LLC raised its stake in TriNet Group by 1,385.3% in the fourth quarter. Advisory Services Network LLC now owns 1,411 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 1,316 shares in the last quarter. Quantamental Technologies LLC acquired a new position in TriNet Group in the first quarter valued at about $100,000. NumerixS Investment Technologies Inc acquired a new position in TriNet Group in the first quarter valued at about $130,000. Finally, ARP Americas LP acquired a new position in TriNet Group in the first quarter valued at about $209,000. 86.72% of the stock is owned by hedge funds and other institutional investors.
About TriNet Group
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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