TriNet Group (TNET) Upgraded to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of TriNet Group (NYSE:TNET) from a sell rating to a strong-buy rating in a research report report published on Thursday, November 9th. The firm currently has $47.00 target price on the business services provider’s stock.

According to Zacks, “TriNet Group, Inc. is a provider of a comprehensive human resources solution for small to medium-sized businesses. It offers payroll, tax administration, risk protection, performance management, compensation consulting, and employee benefit plans. The Company serves banking and financial services, biotech and life sciences, technology, non-profits, professional services, venture capital, and advertising and marketing industries. TriNet Group, Inc. is headquartered in San Leandro, California. “

TNET has been the subject of a number of other reports. Morgan Stanley lifted their price target on TriNet Group from $31.00 to $32.00 and gave the stock an underweight rating in a research note on Friday, November 3rd. BidaskClub raised shares of TriNet Group from a hold rating to a buy rating in a report on Tuesday, November 7th. Stifel Nicolaus reissued a buy rating and issued a $44.00 target price (up previously from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Finally, J P Morgan Chase & Co cut shares of TriNet Group from a neutral rating to an underweight rating and raised their target price for the stock from $33.00 to $36.00 in a report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $38.00.

Shares of TriNet Group (TNET) traded up $0.81 during trading on Thursday, hitting $44.71. The company’s stock had a trading volume of 274,325 shares, compared to its average volume of 300,524. TriNet Group has a one year low of $23.91 and a one year high of $45.00. The stock has a market cap of $3,092.79, a price-to-earnings ratio of 26.98 and a beta of 2.88. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.00.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.30. The company had revenue of $205.90 million for the quarter, compared to analyst estimates of $174.89 million. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. analysts forecast that TriNet Group will post 1.77 EPS for the current fiscal year.

In other TriNet Group news, CEO Burton M. Goldfield sold 2,694 shares of TriNet Group stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $33.94, for a total value of $91,434.36. Following the transaction, the chief executive officer now owns 31,225 shares in the company, valued at $1,059,776.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Martin Babinec sold 28,628 shares of TriNet Group stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $35.32, for a total transaction of $1,011,140.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,040 shares of company stock worth $6,347,156. 41.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in TriNet Group by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 5,417 shares of the business services provider’s stock worth $177,000 after purchasing an additional 813 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in TriNet Group by 596.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock worth $187,000 after purchasing an additional 4,886 shares in the last quarter. SG Americas Securities LLC purchased a new position in TriNet Group during the 2nd quarter worth approximately $194,000. Pitcairn Co. purchased a new position in TriNet Group during the 2nd quarter worth approximately $201,000. Finally, Sei Investments Co. grew its holdings in shares of TriNet Group by 112.0% during the 3rd quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock valued at $266,000 after acquiring an additional 4,181 shares in the last quarter. Hedge funds and other institutional investors own 56.52% of the company’s stock.

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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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