TriNet Group, Inc. (NYSE:TNET – Get Rating) stock price rose ahead of Wednesday’s trading. The stock had previously closed at $78.86, but opened at $82.59. Shares of TriNet Group last traded at $81.56, with a volume of 1,156 shares traded in hands.
A Wall Street analyst gives his opinion
Separately, StockNews.com downgraded TriNet Group from a “Strong Buy” rating to a “Buy” rating in a report on Wednesday.
Performance of the shares of the TriNet group
The stock has a fifty-day moving average price of $77.49 and a 200-day moving average price of $84.75. The company has a market capitalization of $5.13 billion, a price-earnings ratio of 14.27 and a beta of 1.24. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt ratio of 0.71.
TriNet Group (NYSE:TNET – Get Rating) last reported quarterly earnings data on Tuesday, April 26. The business services provider reported earnings per share of $2.41 for the quarter, beating analyst consensus estimates of $1.90 by $0.51. TriNet Group had a return on equity of 50.20% and a net margin of 8.15%. The company posted revenue of $395.00 million for the quarter, versus analyst estimates of $348.78 million. In the same quarter a year earlier, the company posted earnings per share of $1.52. On average, analysts expect TriNet Group, Inc. to post earnings per share of 4.44 for the current fiscal year.
Insider buying and selling
Separately, CEO Burton M. Goldfield sold 4,167 shares of the company in a trade on Tuesday, May 17. The stock was sold at an average price of $80.48, for a total transaction of $335,360.16. As a result of the transaction, the CEO now owns 358,959 shares of the company, valued at $28,889,020.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Separately, CEO Burton M. Goldfield sold 4,167 shares of the company in a trade on Tuesday, May 17. The stock was sold at an average price of $80.48, for a total transaction of $335,360.16. As a result of the transaction, the CEO now owns 358,959 shares of the company, valued at $28,889,020.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, manager Ralph A. Clark purchased 600 shares in a trade on Friday, May 13. The shares were purchased at an average cost of $80.16 per share, for a total transaction of $48,096.00. Following the acquisition, the director now directly owns 5,934 shares of the company, valued at approximately $475,669.44. Disclosure of this purchase can be found here. Insiders sold 15,369 shares of the company valued at $1,192,328 during the last quarter. Insiders of the company hold 40.60% of the shares of the company.
Institutional negotiation of the TriNet group
Several institutional investors and hedge funds have recently changed their positions in TNET. Russell Investments Group Ltd. increased its position in TriNet Group shares by 14.4% in the fourth quarter. Russell Investments Group Ltd. now owns 62,462 shares of the business services provider valued at $5,952,000 after acquiring an additional 7,846 shares last quarter. National Bank of Canada FI purchased a new stake in shares of TriNet Group in the fourth quarter valued at $239,000. The New York State Teachers’ Retirement System purchased a new stake in TriNet Group stock in the fourth quarter at a value of $333,000. Van ECK Associates Corp bought a new stake in shares of TriNet Group in the fourth quarter worth $88,000. Finally, Bessemer Group Inc. increased its position in TriNet Group shares by 57.7% in the fourth quarter. Bessemer Group Inc. now owns 6,831 shares of the business services provider valued at $651,000 after acquiring an additional 2,500 shares last quarter. 96.56% of the shares are currently held by hedge funds and other institutional investors.
TriNet Group Company Profile
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TriNet Group, Inc provides human resources (HR) solutions, payroll services, employee benefits and employment risk mitigation services for small and medium-sized businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefit programs, including health insurance and pension plans; workers’ compensation insurance and claims management; compliance with employment and benefits laws; and other human resource related services.
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