TriNet Group, Inc. (NYSE:TNET) announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.30, Bloomberg Earnings reports. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The business had revenue of $205.90 million for the quarter, compared to the consensus estimate of $174.89 million. During the same period last year, the business posted $0.29 EPS. The business’s revenue was up 27.9% compared to the same quarter last year.
TriNet Group (NYSE:TNET) traded up $0.97 during trading on Monday, reaching $42.69. The company’s stock had a trading volume of 799,900 shares, compared to its average volume of 294,554. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.00. The stock has a market cap of $2,966.33, a P/E ratio of 25.87 and a beta of 2.88. TriNet Group has a twelve month low of $21.35 and a twelve month high of $43.53.
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In other news, insider Michael P. Murphy sold 3,851 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $34.01, for a total value of $130,972.51. Following the completion of the transaction, the insider now owns 18,133 shares of the company’s stock, valued at approximately $616,703.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Burton M. Goldfield sold 24,676 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $35.29, for a total value of $870,816.04. Following the completion of the transaction, the chief executive officer now directly owns 30,707 shares of the company’s stock, valued at approximately $1,083,650.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,260 shares of company stock worth $6,218,436. Company insiders own 41.80% of the company’s stock.
TNET has been the topic of several research analyst reports. Zacks Investment Research upgraded TriNet Group from a “sell” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a research note on Thursday. BidaskClub upgraded TriNet Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Morgan Stanley boosted their target price on TriNet Group from $31.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, November 3rd. J P Morgan Chase & Co downgraded TriNet Group from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $33.00 to $36.00 in a research note on Thursday, August 17th. Finally, Stifel Nicolaus restated a “buy” rating and set a $44.00 target price (up from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $38.00.
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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