TriNet Group (NYSE:TNET) announced its quarterly earnings results 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), Morningstar.com reports. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $233.65 million. TriNet Group had a net margin of 5.62% and a return on equity of 54.21%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share.
Shares of TriNet Group stock traded up $0.36 during trading hours on Wednesday, hitting $62.49. 480,700 shares of the company were exchanged, compared to its average volume of 348,608. TriNet Group has a 1 year low of $38.74 and a 1 year high of $65.09. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $4.28 billion, a PE ratio of 24.32 and a beta of 2.12.
A number of brokerages have weighed in on TNET. Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Thursday, February 7th. ValuEngine upgraded TriNet Group from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. JPMorgan Chase & Co. upgraded TriNet Group from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $60.00 in a research note on Friday, February 15th. Finally, William Blair upgraded TriNet Group from a “market perform” rating to an “outperform” rating and set a $46.80 price objective for the company in a research note on Tuesday, February 12th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. TriNet Group currently has a consensus rating of “Hold” and an average target price of $58.63.
In related news, Director L.P. Agi-T purchased 1,000 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was acquired at an average price of $63.14 per share, for a total transaction of $63,140.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Babinec sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $60.35, for a total value of $1,810,500.00. The disclosure for this sale can be found here. Insiders have sold 190,344 shares of company stock valued at $11,768,785 in the last 90 days. Company insiders own 37.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc grew its holdings in TriNet Group by 1.4% during the third quarter. Vanguard Group Inc now owns 5,282,898 shares of the business services provider’s stock worth $297,532,000 after acquiring an additional 72,091 shares during the period. Vanguard Group Inc. grew its holdings in TriNet Group by 1.4% during the third quarter. Vanguard Group Inc. now owns 5,282,898 shares of the business services provider’s stock worth $297,532,000 after acquiring an additional 72,091 shares during the period. Cantillon Capital Management LLC grew its holdings in TriNet Group by 0.6% during the fourth quarter. Cantillon Capital Management LLC now owns 4,260,116 shares of the business services provider’s stock worth $178,712,000 after acquiring an additional 27,498 shares during the period. BlackRock Inc. grew its holdings in TriNet Group by 1.1% during the first quarter. BlackRock Inc. now owns 3,090,828 shares of the business services provider’s stock worth $184,646,000 after acquiring an additional 33,580 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in TriNet Group by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,248,274 shares of the business services provider’s stock worth $74,571,000 after acquiring an additional 53,887 shares during the period. Institutional investors and hedge funds own 87.58% of the company’s stock.
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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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