TriNet Group (NYSE:TNET) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of TriNet Group (NYSE:TNET) from a hold rating to a buy rating in a research note issued to investors on Thursday, Zacks.com reports. They currently have $80.00 price target on the business services provider’s stock.

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. “

Shares of TNET stock traded up $0.15 on Thursday, reaching $72.44. 3,197 shares of the stock were exchanged, compared to its average volume of 227,967. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average price is $68.10. The stock has a market cap of $4.97 billion, a P/E ratio of 28.14 and a beta of 1.89. TriNet Group has a twelve month low of $38.74 and a twelve month high of $72.67.

TriNet Group (NYSE:TNET) last issued its earnings results on Monday, April 29th. The business services provider reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). The firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $233.65 million. TriNet Group had a return on equity of 54.21% and a net margin of 5.62%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, sell-side analysts anticipate that TriNet Group will post 2.92 earnings per share for the current year.

In related news, VP Edward Griese sold 1,403 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $59.20, for a total value of $83,057.60. Following the completion of the sale, the vice president now directly owns 68,155 shares of the company’s stock, valued at $4,034,776. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Burton M. Goldfield sold 6,000 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $67.86, for a total transaction of $407,160.00. Following the completion of the sale, the chief executive officer now directly owns 319,973 shares of the company’s stock, valued at $21,713,367.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 236,846 shares of company stock valued at $15,279,492. Insiders own 37.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TNET. BlackRock Inc. lifted its position in TriNet Group by 4.9% in the fourth quarter. BlackRock Inc. now owns 3,057,248 shares of the business services provider’s stock valued at $128,252,000 after acquiring an additional 142,778 shares during the last quarter. Castle Rock Wealth Management LLC raised its holdings in shares of TriNet Group by 28.5% in the fourth quarter. Castle Rock Wealth Management LLC now owns 9,130 shares of the business services provider’s stock valued at $421,000 after buying an additional 2,023 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of TriNet Group by 33.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,706 shares of the business services provider’s stock valued at $231,000 after buying an additional 1,425 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of TriNet Group in the fourth quarter valued at about $854,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of TriNet Group by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,194,387 shares of the business services provider’s stock valued at $50,104,000 after buying an additional 87,241 shares during the last quarter. 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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