Zacks: Analysts Expect TriNet Group Inc (NYSE:TNET) Will Post Quarterly Sales of $224.95 Million

Wall Street analysts expect TriNet Group Inc (NYSE:TNET) to post sales of $224.95 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for TriNet Group’s earnings, with estimates ranging from $223.34 million to $227.90 million. TriNet Group reported sales of $228.00 million in the same quarter last year, which suggests a negative year over year growth rate of 1.3%. The business is expected to issue its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that TriNet Group will report full year sales of $946.79 million for the current financial year, with estimates ranging from $946.27 million to $947.41 million. For the next year, analysts forecast that the business will post sales of $1.03 billion, with estimates ranging from $1.01 billion to $1.05 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for TriNet Group.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.70 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.70. TriNet Group had a net margin of 5.16% and a return on equity of 46.35%. The business had revenue of $231.00 million during the quarter, compared to analyst estimates of $221.25 million. During the same quarter last year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year.

Separately, Zacks Investment Research upgraded shares of TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $60.70.

In related news, Director Martin Babinec sold 23,500 shares of TriNet Group 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Edward Griese sold 1,396 shares of TriNet Group stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $61.00, for a total transaction of $85,156.00. Following the completion of the transaction, the vice president now owns 66,151 shares of the company’s stock, valued at approximately $4,035,211. The disclosure for this sale can be found here. Insiders sold 195,647 shares of company stock valued at $13,207,899 in the last quarter. 37.00% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in TNET. Norges Bank acquired a new stake in TriNet Group during the fourth quarter worth approximately $32,128,000. Assenagon Asset Management S.A. acquired a new stake in TriNet Group during the first quarter worth approximately $17,640,000. Marshall Wace North America L.P. raised its holdings in TriNet Group by 12,851.1% during the first quarter. Marshall Wace North America L.P. now owns 162,925 shares of the business services provider’s stock worth $9,733,000 after purchasing an additional 161,667 shares in the last quarter. North Peak Capital Management LLC acquired a new stake in TriNet Group during the first quarter worth approximately $8,864,000. Finally, Spark Investment Management LLC acquired a new stake in TriNet Group during the first quarter worth approximately $6,236,000. 86.63% of the stock is currently owned by institutional investors.

TriNet Group stock traded up $0.17 during trading on Friday, reaching $69.51. The stock had a trading volume of 436,211 shares, compared to its average volume of 333,373. TriNet Group has a 52-week low of $38.74 and a 52-week high of $76.92. The firm has a 50 day moving average of $70.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market capitalization of $5.01 billion, a PE ratio of 27.05 and a beta of 1.89.

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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