TriNet Group, Inc. (TNET) Upgraded to Buy at BidaskClub

TriNet Group, Inc. (NYSE:TNET) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday, October 5th.

Several other brokerages have also commented on TNET. Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 target price (up previously from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Zacks Investment Research raised 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. J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $33.00 to $36.00 in a report on Thursday, August 17th. Finally, Morgan Stanley cut TriNet Group from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $27.00 to $31.00 in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. TriNet Group currently has a consensus rating of “Hold” and an average target price of $37.40.

TriNet Group (TNET) opened at 34.34 on Thursday. The company has a market capitalization of $2.38 billion, a PE ratio of 23.08 and a beta of 2.90. TriNet Group has a 12-month low of $17.78 and a 12-month high of $41.58. The stock has a 50 day moving average of $34.59 and a 200-day moving average of $32.85.

TriNet Group (NYSE:TNET) last posted its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.18. The business had revenue of $201.01 million during the quarter, compared to analyst estimates of $168.27 million. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. Equities analysts expect that TriNet Group will post $1.49 earnings per share for the current year.

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In related news, CEO Burton M. Goldfield sold 4,492 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $35.05, for a total transaction of $157,444.60. Following the sale, the chief executive officer now directly owns 29,482 shares in the company, valued at approximately $1,033,344.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director H Raymond Bingham sold 5,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $39.53, for a total value of $197,650.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $197,650. The disclosure for this sale can be found here. Insiders have sold 344,666 shares of company stock worth $12,734,095 over the last 90 days. Corporate insiders own 41.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio grew its holdings in shares of TriNet Group by 102.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 23,978 shares of the business services provider’s stock valued at $785,000 after acquiring an additional 12,159 shares in the last quarter. Mitra Capital LLC bought a new position in shares of TriNet Group in the 2nd quarter valued at about $1,355,000. State Street Corp grew its holdings in shares of TriNet Group by 5.3% in the 2nd quarter. State Street Corp now owns 832,811 shares of the business services provider’s stock valued at $27,265,000 after acquiring an additional 41,959 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of TriNet Group in the 2nd quarter valued at about $1,026,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of TriNet Group in the 2nd quarter valued at about $2,418,000. Hedge funds and other institutional investors own 54.58% of the company’s stock.

About TriNet Group

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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