TriNet Group (TNET) Cut to “Hold” at ValuEngine

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.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Monday, October 29th. The business services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.20. The company had revenue of $228.00 million for the quarter, compared to the consensus estimate of $202.65 million. TriNet Group had a return on equity of 63.58% and a net margin of 6.67%. TriNet Group’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 EPS. As a group, research analysts anticipate that TriNet Group will post 2.54 earnings per share for the current year.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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