TriNet Group (NYSE:TNET) Rating Increased to Hold at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of TriNet Group (NYSE:TNET) from a strong sell rating to a hold rating in a research note published on Saturday morning, Zacks.com reports.

According to Zacks, “TriNet Group, Inc. is a provider of a comprehensive human resources solution for small to medium-sized businesses. It offers payroll, tax administration, risk protection, performance management, compensation consulting, and employee benefit plans. The Company serves banking and financial services, biotech and life sciences, technology, non-profits, professional services, venture capital, and advertising and marketing industries. TriNet Group, Inc. is headquartered in San Leandro, California. “

Separately, Credit Suisse Group lifted their price objective on TriNet Group from $38.00 to $44.00 and gave the company a neutral rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $58.00.

TNET stock opened at $59.77 on Friday. TriNet Group has a twelve month low of $27.79 and a twelve month high of $76.92. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.95 billion, a P/E ratio of 17.53 and a beta of 1.94. The business’s 50-day moving average price is $53.68 and its 200-day moving average price is $51.69.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.58. TriNet Group had a return on equity of 48.47% and a net margin of 6.05%. The firm had revenue of $283.00 million for the quarter, compared to analysts’ expectations of $245.95 million. During the same period in the previous year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts expect that TriNet Group will post 2.86 earnings per share for the current fiscal year.

In related news, CEO Burton M. Goldfield sold 3,000 shares of TriNet Group stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $46.38, for a total transaction of $139,140.00. Following the sale, the chief executive officer now owns 162,392 shares of the company’s stock, valued at approximately $7,531,740.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 6,000 shares of TriNet Group stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $44.17, for a total value of $265,020.00. Following the sale, the chief executive officer now directly owns 162,392 shares in the company, valued at approximately $7,172,854.64. The disclosure for this sale can be found here. Insiders have sold a total of 153,892 shares of company stock worth $8,285,141 in the last three months. 39.70% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in TNET. ArrowMark Colorado Holdings LLC increased its stake in TriNet Group by 61.2% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,011,989 shares of the business services provider’s stock worth $227,119,000 after acquiring an additional 1,523,626 shares during the last quarter. Norges Bank bought a new stake in TriNet Group in the 4th quarter worth approximately $38,282,000. Harbor Spring Capital LLC increased its stake in TriNet Group by 83.2% in the 1st quarter. Harbor Spring Capital LLC now owns 1,024,842 shares of the business services provider’s stock worth $38,596,000 after acquiring an additional 465,369 shares during the last quarter. Wellington Management Group LLP increased its stake in TriNet Group by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 7,328,273 shares of the business services provider’s stock worth $275,983,000 after acquiring an additional 217,867 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in TriNet Group by 987.0% in the 1st quarter. Russell Investments Group Ltd. now owns 213,165 shares of the business services provider’s stock worth $8,051,000 after acquiring an additional 193,554 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

TriNet Group 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.

Read More: What does a market perform rating mean?

Get a free copy of the Zacks research report on TriNet Group (TNET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for TriNet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group and related companies with MarketBeat.com's FREE daily email newsletter.