Zacks Investment Research downgraded shares of TriNet Group (NYSE:TNET) from a buy rating to a hold rating in a report released on Friday morning.
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 topic of several other research reports. Credit Suisse Group set a $54.00 price objective on shares of TriNet Group and gave the stock a hold rating in a research note on Tuesday, October 30th. ValuEngine raised shares of TriNet Group from a sell rating to a hold rating in a research note on Wednesday, January 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $56.75.
Shares of TNET opened at $45.97 on Friday. The company has a market capitalization of $3.24 billion, a PE ratio of 26.73 and a beta of 2.05. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.20 and a current ratio of 1.20. TriNet Group has a 12-month low of $38.26 and a 12-month high of $60.15.
In other TriNet Group news, SVP Brady Mickelsen sold 7,293 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $44.06, for a total value of $321,329.58. Following the completion of the transaction, the senior vice president now directly owns 47,390 shares in the company, valued at $2,088,003.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Edward Griese sold 1,141 shares of the firm’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $41.61, for a total transaction of $47,477.01. Following the completion of the transaction, the vice president now owns 26,684 shares of the company’s stock, valued at $1,110,321.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,175 shares of company stock valued at $7,231,523. Corporate insiders own 38.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC acquired a new stake in shares of TriNet Group during the third quarter worth approximately $106,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TriNet Group by 21.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,039 shares of the business services provider’s stock worth $127,000 after purchasing an additional 546 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of TriNet Group during the third quarter worth approximately $239,000. Raymond James & Associates acquired a new stake in shares of TriNet Group during the second quarter worth approximately $246,000. Finally, Capital Fund Management S.A. acquired a new stake in shares of TriNet Group during the third quarter worth approximately $282,000. Institutional investors and hedge funds own 85.00% 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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