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.
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