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

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.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. TriNet Group had a net margin of 5.16% and a return on equity of 46.35%. The company had revenue of $231.00 million during the quarter, compared to analysts’ expectations of $221.25 million. During the same quarter in the previous year, the business posted $0.87 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that TriNet Group will post 2.98 EPS for the current fiscal year.

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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