TriNet Group, Inc. (NYSE:TNET) CEO Sells $157,444.60 in Stock

TriNet Group, Inc. (NYSE:TNET) CEO Burton M. Goldfield sold 4,492 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $35.05, for a total value of $157,444.60. Following the sale, the chief executive officer now owns 29,482 shares in the company, valued at $1,033,344.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

TriNet Group, Inc. (NYSE:TNET) traded up 0.23% during trading on Friday, reaching $35.42. The company had a trading volume of 202,486 shares. The firm has a market capitalization of $2.46 billion, a P/E ratio of 23.80 and a beta of 2.94. The firm’s 50-day moving average price is $35.21 and its 200 day moving average price is $30.71. TriNet Group, Inc. has a one year low of $17.78 and a one year high of $41.58.

TriNet Group (NYSE:TNET) last issued its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.18. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The firm had revenue of $201.01 million for the quarter, compared to analysts’ expectations of $168.27 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. Equities analysts forecast that TriNet Group, Inc. will post $1.48 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of TNET. Public Employees Retirement System of Ohio boosted its stake in shares of TriNet Group by 102.9% in the second quarter. Public Employees Retirement System of Ohio now owns 23,978 shares of the business services provider’s stock valued at $785,000 after buying an additional 12,159 shares during the period. Mitra Capital LLC purchased a new stake in shares of TriNet Group during the second quarter valued at about $1,355,000. State Street Corp boosted its stake in shares of TriNet Group by 5.3% in the second quarter. State Street Corp now owns 832,811 shares of the business services provider’s stock valued at $27,265,000 after buying an additional 41,959 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of TriNet Group during the second quarter valued at about $1,026,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of TriNet Group during the second quarter valued at about $2,418,000. 52.87% of the stock is currently owned by hedge funds and other institutional investors.

TNET has been the topic of a number of analyst reports. Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective on the stock in a research note on Saturday, August 5th. Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. BidaskClub cut TriNet Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Deutsche Bank AG boosted their target price on TriNet Group from $30.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, May 3rd. Finally, J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $33.00 to $36.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $39.00.

TriNet Group Company Profile

TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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.

Insider Buying and Selling by Quarter for TriNet Group (NYSE:TNET)

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