TriNet Group Inc (NYSE:TNET) has been given a consensus rating of “Hold” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $41.40.
Several research firms recently commented on TNET. Zacks Investment Research upgraded TriNet Group from a “sell” rating to a “strong-buy” rating and set a $54.00 target price for the company in a research report on Wednesday, March 7th. Stifel Nicolaus boosted their target price on TriNet Group to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th.
In other TriNet Group news, Director Martin Babinec sold 36,500 shares of TriNet Group stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $43.53, for a total transaction of $1,588,845.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brady Mickelsen sold 6,393 shares of TriNet Group stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $41.11, for a total value of $262,816.23. Following the sale, the senior vice president now directly owns 35,036 shares of the company’s stock, valued at approximately $1,440,329.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,109 shares of company stock valued at $9,721,254. Corporate insiders own 41.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of TNET. Suntrust Banks Inc. bought a new stake in TriNet Group during the fourth quarter worth about $218,000. Pitcairn Co. bought a new stake in TriNet Group during the fourth quarter worth about $230,000. Intrust Bank NA bought a new stake in TriNet Group during the fourth quarter worth about $231,000. Amalgamated Bank bought a new stake in TriNet Group during the fourth quarter worth about $250,000. Finally, Sei Investments Co. lifted its stake in TriNet Group by 112.0% during the third quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock worth $266,000 after purchasing an additional 4,181 shares during the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.
TriNet Group (TNET) traded down $0.66 during trading on Friday, reaching $47.18. The company had a trading volume of 29,482 shares, compared to its average volume of 379,367. TriNet Group has a twelve month low of $27.27 and a twelve month high of $49.00. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $3,370.36, a PE ratio of 28.30 and a beta of 2.54.
TriNet Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 27th that permits the company to buyback $120.00 million in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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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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