Press coverage about TriNet Group (NYSE:TNET) has trended somewhat positive this week, Accern reports. The research group identifies positive and negative news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. TriNet Group earned a media sentiment score of 0.21 on Accern’s scale. Accern also gave press coverage about the business services provider an impact score of 44.9254635604646 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news stories that may have effected Accern Sentiment Analysis’s scoring:
- Insider Selling: TriNet Group Inc (TNET) CEO Sells 3,645 Shares of Stock (americanbankingnews.com)
- Edited Transcript of TNET earnings conference call or presentation 27-Feb-18 10:00pm GMT (finance.yahoo.com)
- TriNet Group Inc (TNET) Given Average Rating of “Hold” by Brokerages (americanbankingnews.com)
- TriNet Group Inc (TNET) Expected to Announce Quarterly Sales of $216.20 Million (americanbankingnews.com)
TNET has been the subject of a number of research analyst reports. Zacks Investment Research cut TriNet Group from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. Stifel Nicolaus boosted their price objective on TriNet Group to $54.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $41.40.
TriNet Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 27th that authorizes the company to repurchase $120.00 million in shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In related news, CEO Burton M. Goldfield sold 17,809 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $41.78, for a total value of $744,060.02. Following the completion of the sale, the chief executive officer now directly owns 32,234 shares in the company, valued at $1,346,736.52. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brady Mickelsen sold 6,393 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $41.11, for a total value of $262,816.23. Following the completion of the sale, the senior vice president now owns 35,036 shares of the company’s stock, valued at $1,440,329.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,109 shares of company stock valued at $9,721,254. 41.80% of the stock is currently owned by corporate insiders.
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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