ValuEngine cut shares of TriNet Group (NYSE:TNET) from a buy rating to a hold rating in a research report released on Thursday.
A number of other research firms also recently issued reports on TNET. Credit Suisse Group began coverage on TriNet Group in a research report on Friday, August 10th. They set a neutral rating and a $65.00 price target on the stock. Stifel Nicolaus increased their price target on TriNet Group from $64.00 to $66.00 and gave the stock a buy rating in a research report on Tuesday, July 31st. Morgan Stanley increased their price target on TriNet Group from $51.00 to $55.00 and gave the stock a hold rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research raised TriNet Group from a hold rating to a buy rating and set a $61.00 price target on the stock in a research report on Saturday, August 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $59.00.
TriNet Group stock traded up $0.14 during mid-day trading on Thursday, hitting $47.32. The company’s stock had a trading volume of 284,854 shares, compared to its average volume of 333,763. The company has a market capitalization of $3.33 billion, a PE ratio of 19.16 and a beta of 2.40. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 1.13. TriNet Group has a one year low of $38.26 and a one year high of $60.15.
In related news, insider Michael P. Murphy sold 9,363 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $55.93, for a total transaction of $523,672.59. Following the completion of the sale, the insider now directly owns 22,418 shares in the company, valued at approximately $1,253,838.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Burton M. Goldfield sold 17,563 shares of the company’s stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $49.53, for a total value of $869,895.39. Following the sale, the chief executive officer now owns 210,257 shares of the company’s stock, valued at $10,414,029.21. The disclosure for this sale can be found here. Insiders have sold a total of 175,605 shares of company stock worth $9,691,464 in the last three months. Corporate insiders own 38.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zacks Investment Management purchased a new stake in shares of TriNet Group during the 2nd quarter worth $4,693,000. Swiss National Bank lifted its stake in shares of TriNet Group by 10.0% during the 2nd quarter. Swiss National Bank now owns 79,300 shares of the business services provider’s stock worth $4,436,000 after purchasing an additional 7,200 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of TriNet Group by 29.3% during the 2nd quarter. Alps Advisors Inc. now owns 13,296 shares of the business services provider’s stock worth $590,000 after purchasing an additional 3,014 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of TriNet Group by 31.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,037 shares of the business services provider’s stock worth $394,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of TriNet Group during the 2nd quarter worth $132,000. Hedge funds and other institutional investors own 85.59% 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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