Zacks Investment Research Upgrades TriNet Group (NYSE:TNET) to “Hold”

Zacks Investment Research upgraded shares of TriNet Group (NYSE:TNET) from a strong sell rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

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. “

Separately, Credit Suisse Group boosted their price target on shares of TriNet Group from $38.00 to $44.00 and gave the stock a neutral rating in a report on Wednesday, April 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $58.00.

TNET opened at $59.77 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 17.53 and a beta of 1.94. The firm’s fifty day moving average price is $53.68 and its two-hundred day moving average price is $51.69. TriNet Group has a 1 year low of $27.79 and a 1 year high of $76.92.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.58. The firm had revenue of $283.00 million for the quarter, compared to the consensus estimate of $245.95 million. TriNet Group had a net margin of 6.05% and a return on equity of 48.47%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. As a group, equities analysts anticipate that TriNet Group will post 2.86 EPS for the current year.

In other news, CEO Burton M. Goldfield sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $46.38, for a total transaction of $139,140.00. Following the sale, the chief executive officer now directly owns 162,392 shares in the company, valued at $7,531,740.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Edward Griese sold 646 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $47.15, for a total transaction of $30,458.90. Following the completion of the transaction, the senior vice president now owns 39,631 shares in the company, valued at $1,868,601.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,892 shares of company stock worth $8,285,141. Company insiders own 39.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of TNET. Public Employees Retirement Association of Colorado boosted its stake in TriNet Group by 30.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 6,840 shares of the business services provider’s stock worth $258,000 after buying an additional 1,605 shares in the last quarter. FDx Advisors Inc. purchased a new stake in TriNet Group in the first quarter worth approximately $273,000. Twinbeech Capital LP purchased a new stake in TriNet Group in the first quarter worth approximately $203,000. Advisor Group Holdings Inc. purchased a new stake in TriNet Group in the first quarter worth approximately $89,000. Finally, Engineers Gate Manager LP boosted its stake in TriNet Group by 633.5% in the first quarter. Engineers Gate Manager LP now owns 67,351 shares of the business services provider’s stock worth $2,536,000 after buying an additional 58,169 shares in the last quarter. Institutional investors own 93.09% 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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