Credit Suisse Group set a $52.00 price objective on TriNet Group (NYSE:TNET) in a research note issued to investors on Friday, TipRanks reports. The firm currently has a hold rating on the business services provider's stock.
TNET has been the topic of several other reports. Zacks Investment Research cut TriNet Group from a buy rating to a hold rating in a report on Thursday, September 26th. ValuEngine cut TriNet Group from a hold rating to a sell rating in a report on Monday, October 7th. Finally, Berenberg Bank began coverage on TriNet Group in a report on Friday, September 13th. They issued a buy rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $64.16.
TNET stock traded down $0.27 during trading on Friday, hitting $50.04. The company had a trading volume of 769,914 shares, compared to its average volume of 347,276. The business has a 50-day moving average of $61.52 and a 200-day moving average of $65.30. TriNet Group has a one year low of $38.74 and a one year high of $76.92. The stock has a market cap of $4.10 billion, a PE ratio of 19.47 and a beta of 1.86. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.87.
TriNet Group (NYSE:TNET) last announced its earnings results on Thursday, October 24th. The business services provider reported $0.81 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.68 by $0.13. TriNet Group had a return on equity of 46.02% and a net margin of 5.14%. The business had revenue of $221.00 million for the quarter, compared to analysts' expectations of $226.76 million. During the same period in the prior year, the business posted $0.75 earnings per share. The firm's revenue was down 3.1% on a year-over-year basis. Research analysts forecast that TriNet Group will post 2.98 EPS for the current year.
In other TriNet Group news, Director Paul Edward Chamberlain sold 700 shares of the business's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $58.26, for a total value of $40,782.00. Following the transaction, the director now directly owns 28,143 shares of the company's stock, valued at $1,639,611.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Babinec sold 23,500 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $71.21, for a total value of $1,673,435.00. The disclosure for this sale can be found here. Insiders sold 109,916 shares of company stock worth $7,229,795 over the last quarter. 37.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. raised its position in shares of TriNet Group by 5.2% during the second quarter. Advisor Group Inc. now owns 3,158 shares of the business services provider's stock worth $215,000 after purchasing an additional 155 shares during the period. ARP Americas LP raised its position in shares of TriNet Group by 5.7% during the second quarter. ARP Americas LP now owns 3,700 shares of the business services provider's stock worth $251,000 after purchasing an additional 200 shares during the period. Strs Ohio raised its position in shares of TriNet Group by 1.0% during the third quarter. Strs Ohio now owns 19,800 shares of the business services provider's stock worth $1,231,000 after purchasing an additional 200 shares during the period. AQR Capital Management LLC raised its position in shares of TriNet Group by 3.1% during the second quarter. AQR Capital Management LLC now owns 18,552 shares of the business services provider's stock worth $1,258,000 after purchasing an additional 561 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of TriNet Group by 8.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 8,104 shares of the business services provider's stock worth $504,000 after purchasing an additional 654 shares during the period. 86.51% of the stock is currently owned by hedge funds and other institutional investors.
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.
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