Zacks Investment Research upgraded shares of TriNet Group (NYSE:TNET) from a sell rating to a buy rating in a report published on Thursday, Zacks.com reports. They currently have $82.00 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. “
NYSE TNET traded down $1.56 on Thursday, hitting $71.58. 289,794 shares of the stock were exchanged, compared to its average volume of 331,959. 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 has a fifty-two week low of $38.74 and a fifty-two week high of $76.92. The firm has a market cap of $5.10 billion, a P/E ratio of 27.85 and a beta of 1.89. The firm has a 50-day simple moving average of $70.53.
In other news, CEO Burton M. Goldfield sold 6,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $67.86, for a total value of $407,160.00. Following the completion of the transaction, the chief executive officer now owns 319,973 shares in the company, valued at approximately $21,713,367.78. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Burton M. Goldfield sold 23,486 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $60.99, for a total transaction of $1,432,411.14. Following the completion of the transaction, the chief executive officer now owns 336,809 shares of the company’s stock, valued at approximately $20,541,980.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,664 shares of company stock valued at $13,485,416. Company insiders own 37.00% of the company’s stock.
Several institutional investors have recently modified their holdings of TNET. Norges Bank acquired a new position in shares of TriNet Group in the 4th quarter valued at $32,128,000. Assenagon Asset Management S.A. purchased a new stake in TriNet Group in the 1st quarter valued at $17,640,000. Marshall Wace North America L.P. raised its position in TriNet Group by 12,851.1% in the 1st quarter. Marshall Wace North America L.P. now owns 162,925 shares of the business services provider’s stock valued at $9,733,000 after purchasing an additional 161,667 shares during the last quarter. North Peak Capital Management LLC purchased a new stake in TriNet Group in the 1st quarter valued at $8,864,000. Finally, Spark Investment Management LLC purchased a new stake in TriNet Group in the 1st quarter valued at $6,236,000. Institutional investors and hedge funds own 86.74% of the company’s stock.
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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