TriNet Group (NYSE:TNET) Updates FY 2022 Earnings Guidance

TriNet Group (NYSE:TNETGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.700-$5.350 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.930. The company issued revenue guidance of -.TriNet Group also updated its Q2 2022 guidance to $1.100-$1.210 EPS.

Shares of TNET traded down $1.51 during trading hours on Tuesday, hitting $91.11. The stock had a trading volume of 513,716 shares, compared to its average volume of 523,837. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.40 and a quick ratio of 1.40. TriNet Group has a 12 month low of $69.43 and a 12 month high of $109.40. The firm has a market capitalization of $5.67 billion, a PE ratio of 18.27 and a beta of 1.29. The stock has a fifty day moving average price of $91.90 and a 200 day moving average price of $94.15.

TriNet Group (NYSE:TNETGet Rating) last issued its quarterly earnings data on Monday, February 14th. The business services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.57. TriNet Group had a return on equity of 43.60% and a net margin of 7.44%. The company had revenue of $293.00 million during the quarter, compared to analyst estimates of $244.11 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. As a group, analysts anticipate that TriNet Group will post 4.24 EPS for the current fiscal year.

Several research firms have issued reports on TNET. StockNews.com lowered TriNet Group from a strong-buy rating to a buy rating in a report on Thursday, April 14th. Zacks Investment Research lowered TriNet Group from a hold rating to a sell rating in a report on Friday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $92.98.

In other news, Director H Raymond Bingham sold 415 shares of TriNet Group stock in a transaction dated Thursday, February 3rd. The stock was sold at an average price of $86.04, for a total value of $35,706.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Burton M. Goldfield sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $90.97, for a total value of $181,940.00. The disclosure for this sale can be found here. Insiders have sold a total of 56,399 shares of company stock worth $5,028,952 in the last three months. 39.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in TriNet Group by 0.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 130,125 shares of the business services provider’s stock valued at $12,396,000 after buying an additional 706 shares in the last quarter. Morgan Stanley lifted its stake in shares of TriNet Group by 133.3% in the 2nd quarter. Morgan Stanley now owns 149,161 shares of the business services provider’s stock valued at $10,811,000 after purchasing an additional 85,238 shares during the last quarter. Barclays PLC lifted its stake in shares of TriNet Group by 3.7% in the 4th quarter. Barclays PLC now owns 78,250 shares of the business services provider’s stock valued at $7,453,000 after purchasing an additional 2,794 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of TriNet Group by 15.1% in the 4th quarter. Parametric Portfolio Associates LLC now owns 75,230 shares of the business services provider’s stock valued at $7,166,000 after purchasing an additional 9,863 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of TriNet Group by 9.4% in the 4th quarter. Invesco Ltd. now owns 62,062 shares of the business services provider’s stock valued at $5,913,000 after purchasing an additional 5,330 shares during the last quarter. Institutional investors and hedge funds own 88.52% of the company’s stock.

TriNet Group Company Profile (Get Rating)

TriNet Group, Inc provides human resources (HR) solutions, payroll services, employee benefits, and employment risk mitigation services for small and midsize businesses in the United States. 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 benefits law compliance; and other HR related services.

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