TriNet Group (NYSE:TNET) Stock Rating Lowered by Zacks Investment Research

TriNet Group (NYSE:TNET) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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. “

Separately, Credit Suisse Group increased their price objective on TriNet Group from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, April 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $82.00.

Shares of NYSE TNET opened at $72.30 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $4.76 billion, a PE ratio of 17.30 and a beta of 1.43. The firm’s fifty day moving average is $78.81. TriNet Group has a 12-month low of $50.67 and a 12-month high of $87.60.

TriNet Group (NYSE:TNET) last announced its earnings results on Sunday, April 25th. The business services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.36. TriNet Group had a return on equity of 44.94% and a net margin of 6.97%. The business had revenue of $309.00 million for the quarter, compared to analysts’ expectations of $280.46 million. During the same quarter last year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, analysts forecast that TriNet Group will post 3.32 EPS for the current year.

In related news, Director H Raymond Bingham sold 415 shares of the firm’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $82.79, for a total value of $34,357.85. Following the completion of the transaction, the director now owns 5,773 shares in the company, valued at approximately $477,946.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Burton M. Goldfield sold 11,666 shares of the firm’s stock in a transaction on Thursday, March 18th. The stock was sold at an average price of $81.74, for a total value of $953,578.84. Following the completion of the transaction, the chief executive officer now owns 232,026 shares of the company’s stock, valued at approximately $18,965,805.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,621 shares of company stock valued at $5,574,328. Company insiders own 39.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of TNET. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TriNet Group by 8.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,020 shares of the business services provider’s stock worth $485,000 after acquiring an additional 494 shares during the last quarter. First Trust Advisors LP grew its position in TriNet Group by 205.7% during the 4th quarter. First Trust Advisors LP now owns 24,309 shares of the business services provider’s stock worth $1,959,000 after purchasing an additional 16,356 shares during the period. California Public Employees Retirement System grew its position in TriNet Group by 8.4% during the 4th quarter. California Public Employees Retirement System now owns 101,441 shares of the business services provider’s stock worth $8,176,000 after purchasing an additional 7,873 shares during the period. CIBC Asset Management Inc acquired a new stake in TriNet Group during the 4th quarter worth about $221,000. Finally, Navellier & Associates Inc grew its position in TriNet Group by 56.3% during the 4th quarter. Navellier & Associates Inc now owns 5,351 shares of the business services provider’s stock worth $431,000 after purchasing an additional 1,928 shares during the period. Institutional investors own 91.41% of the company’s stock.

About TriNet Group

TriNet Group, Inc provides human resources (HR) solutions 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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