TriNet Group (NYSE:TNET) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of TriNet Group (NYSE:TNET) from a hold rating to a buy rating in a research report released on Thursday, Zacks.com reports. The firm currently has $80.00 target price on the business services provider’s stock.

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. “

Shares of NYSE:TNET opened at $71.72 on Thursday. The company has a market capitalization of $5.06 billion, a PE ratio of 27.91 and a beta of 1.89. TriNet Group has a 1 year low of $38.74 and a 1 year high of $72.97. The stock has a fifty day simple moving average of $68.27. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Monday, April 29th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.01). The business had revenue of $251.00 million during the quarter, compared to the consensus estimate of $233.65 million. TriNet Group had a return on equity of 54.21% and a net margin of 5.62%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. On average, equities analysts anticipate that TriNet Group will post 2.92 earnings per share for the current year.

In other TriNet Group news, insider Michael P. Murphy sold 7,351 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $63.33, for a total transaction of $465,538.83. Following the completion of the transaction, the insider now owns 53,002 shares of the company’s stock, valued at approximately $3,356,616.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Edward Griese sold 1,396 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $71.31, for a total transaction of $99,548.76. Following the transaction, the vice president now directly owns 60,542 shares of the company’s stock, valued at approximately $4,317,250.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 238,242 shares of company stock valued at $15,379,041. Company insiders own 37.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC raised its position in shares of TriNet Group by 1,385.3% during the fourth quarter. Advisory Services Network LLC now owns 1,411 shares of the business services provider’s stock valued at $59,000 after buying an additional 1,316 shares during the last quarter. Hilton Capital Management LLC acquired a new position in shares of TriNet Group during the first quarter valued at about $79,000. Quantamental Technologies LLC acquired a new position in shares of TriNet Group during the first quarter valued at about $100,000. NumerixS Investment Technologies Inc acquired a new position in shares of TriNet Group during the first quarter valued at about $130,000. Finally, ARP Americas LP acquired a new position in shares of TriNet Group during the first quarter valued at about $209,000. 86.72% 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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