TriNet Group (NYSE:TNET) Sets New 1-Year High at $112.85

TriNet Group, Inc. (NYSE:TNET) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $112.85 and last traded at $112.81, with a volume of 38489 shares changing hands. The stock had previously closed at $111.65.

Analyst Upgrades and Downgrades

TNET has been the subject of a number of research reports. TD Cowen upgraded TriNet Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $95.00 to $125.00 in a research note on Monday, August 7th. Needham & Company LLC raised their target price on TriNet Group from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. JPMorgan Chase & Co. lifted their price objective on TriNet Group from $90.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 22nd. StockNews.com began coverage on TriNet Group in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $87.00 price objective on shares of TriNet Group in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $97.17.

TriNet Group Stock Up 1.2 %

The company has a market capitalization of $6.74 billion, a P/E ratio of 20.36 and a beta of 1.16. The stock has a 50-day moving average price of $102.35 and a 200-day moving average price of $92.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.28 and a quick ratio of 1.28.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.07 by $0.45. The firm had revenue of $341.00 million during the quarter, compared to the consensus estimate of $310.34 million. TriNet Group had a return on equity of 45.40% and a net margin of 6.91%. On average, research analysts predict that TriNet Group, Inc. will post 6.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Burton M. Goldfield sold 7,000 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $94.99, for a total value of $664,930.00. Following the completion of the transaction, the chief executive officer now directly owns 176,239 shares in the company, valued at approximately $16,740,942.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other TriNet Group news, CEO Burton M. Goldfield sold 7,000 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $94.99, for a total value of $664,930.00. Following the completion of the sale, the chief executive officer now owns 176,239 shares in the company, valued at approximately $16,740,942.61. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Alexander G. Warren sold 1,928 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $104.81, for a total value of $202,073.68. Following the completion of the transaction, the senior vice president now directly owns 35,559 shares of the company’s stock, valued at approximately $3,726,938.79. The disclosure for this sale can be found here. Insiders have sold 3,432,735 shares of company stock worth $367,189,511 in the last ninety days. 37.40% of the stock is currently owned by insiders.

Institutional Trading of TriNet Group

Several institutional investors have recently added to or reduced their stakes in the business. Avion Wealth lifted its position in TriNet Group by 85.3% during the second quarter. Avion Wealth now owns 354 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 163 shares in the last quarter. Amundi bought a new stake in shares of TriNet Group in the fourth quarter worth about $33,000. Nisa Investment Advisors LLC increased its holdings in shares of TriNet Group by 2,866.7% in the first quarter. Nisa Investment Advisors LLC now owns 445 shares of the business services provider’s stock worth $36,000 after purchasing an additional 430 shares during the last quarter. Ronald Blue Trust Inc. increased its holdings in shares of TriNet Group by 24.0% in the first quarter. Ronald Blue Trust Inc. now owns 630 shares of the business services provider’s stock worth $43,000 after purchasing an additional 122 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of TriNet Group by 78.7% in the second quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock worth $48,000 after purchasing an additional 273 shares during the last quarter. 93.58% of the stock is currently owned by hedge funds and other institutional investors.

About TriNet Group

TriNet Group, Inc provides human resources (HR) consulting services, employee benefit options, payroll services, and employment risk mitigation services for small and medium size 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.