TriNet Group (NYSE:TNET) PT Raised to $82.00

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TriNet Group (NYSE:TNET) had its price target increased by JPMorgan Chase & Co. from $65.00 to $82.00 in a research note issued to investors on Monday, The Fly reports. They currently have a neutral rating on the business services provider’s stock.

TNET has been the topic of several other research reports. Credit Suisse Group lifted their price target on shares of TriNet Group from $44.00 to $54.00 and gave the company a neutral rating in a report on Tuesday, July 28th. Zacks Investment Research upgraded shares of TriNet Group from a hold rating to a strong-buy rating and set a $78.00 price target on the stock in a report on Saturday, August 1st. Finally, Stifel Nicolaus lifted their price target on shares of TriNet Group from $66.00 to $79.00 and gave the company a buy rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $74.60.

Shares of NYSE TNET opened at $67.98 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. TriNet Group has a 52 week low of $27.79 and a 52 week high of $73.82. The firm’s fifty day moving average is $64.60 and its 200 day moving average is $53.70. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 14.65 and a beta of 1.90.

TriNet Group (NYSE:TNET) last issued its earnings results on Monday, July 27th. The business services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $0.99 by $1.04. TriNet Group had a net margin of 8.03% and a return on equity of 60.66%. The company had revenue of $335.00 million for the quarter, compared to the consensus estimate of $268.46 million. During the same period in the previous year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up 45.0% on a year-over-year basis. Equities research analysts anticipate that TriNet Group will post 3.24 earnings per share for the current year.

In other news, SVP Edward Griese sold 648 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $69.55, for a total transaction of $45,068.40. Following the sale, the senior vice president now owns 38,565 shares in the company, valued at approximately $2,682,195.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Martin Babinec sold 26,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $50.93, for a total transaction of $1,324,180.00. Following the sale, the director now owns 5,773 shares in the company, valued at approximately $294,018.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,344 shares of company stock worth $15,566,518. Company insiders own 39.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TNET. ArrowMark Colorado Holdings LLC raised its position in shares of TriNet Group by 28.5% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 5,156,325 shares of the business services provider’s stock worth $194,187,000 after purchasing an additional 1,144,336 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of TriNet Group in the 2nd quarter worth about $63,162,000. FMR LLC raised its position in shares of TriNet Group by 582.0% in the 2nd quarter. FMR LLC now owns 1,046,180 shares of the business services provider’s stock worth $63,754,000 after purchasing an additional 892,772 shares during the last quarter. Harbor Spring Capital LLC raised its position in shares of TriNet Group by 83.2% in the 1st quarter. Harbor Spring Capital LLC now owns 1,024,842 shares of the business services provider’s stock worth $38,596,000 after purchasing an additional 465,369 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of TriNet Group by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 7,328,273 shares of the business services provider’s stock worth $275,983,000 after purchasing an additional 217,867 shares during the last quarter. 92.78% of the stock is owned by hedge funds and other institutional investors.

About TriNet Group

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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Analyst Recommendations for TriNet Group (NYSE:TNET)

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