TriNet Group (NYSE:TNET) Rating Increased to Buy at Zacks Investment Research

Last updated on Thursday, June 24, 2021 | 2021 MarketBeat

TriNet Group (NYSE:TNET) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued on Thursday, Zacks.com reports. The brokerage presently has a $81.00 target price on the business services provider's stock. Zacks Investment Research's target price would suggest a potential upside of 12.31% from the company's previous close.

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 lifted their price target on TriNet Group from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. TriNet Group presently has a consensus rating of "Buy" and an average price target of $81.75.

Shares of NYSE TNET opened at $72.12 on Thursday. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 17.25 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 1.32. The firm's 50-day moving average is $77.37. TriNet Group has a 52 week low of $55.77 and a 52 week high of $87.60.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Sunday, April 25th. The business services provider reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.30 by $0.36. TriNet Group had a net margin of 6.97% and a return on equity of 44.94%. The business had revenue of $309.00 million during the quarter, compared to the consensus estimate of $280.46 million. During the same period in the prior year, the firm earned $1.41 EPS. TriNet Group's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, analysts predict that TriNet Group will post 3.32 earnings per share for the current year.

In related news, Director Martin Babinec sold 12,100 shares of the company's stock in a transaction on Tuesday, June 15th. The stock was sold at an average price of $72.92, for a total value of $882,332.00. Following the completion of the transaction, the director now directly owns 2,576 shares in the company, valued at $187,841.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director H Raymond Bingham sold 415 shares of the firm's stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $83.66, for a total value of $34,718.90. Following the completion of the transaction, the director now directly owns 2,576 shares of the company's stock, valued at $215,508.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,867 shares of company stock valued at $5,024,664. 39.30% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of TNET. Lazard Asset Management LLC lifted its position in shares of TriNet Group by 24.4% during the 1st quarter. Lazard Asset Management LLC now owns 852 shares of the business services provider's stock worth $66,000 after buying an additional 167 shares during the period. Public Employees Retirement System of Ohio grew its position in TriNet Group by 5.3% in the first quarter. Public Employees Retirement System of Ohio now owns 2,531 shares of the business services provider's stock valued at $197,000 after acquiring an additional 128 shares during the period. Intrust Bank NA acquired a new position in TriNet Group during the fourth quarter worth $202,000. Virtu Financial LLC bought a new position in shares of TriNet Group during the first quarter valued at $213,000. Finally, Meritage Portfolio Management bought a new stake in shares of TriNet Group in the 1st quarter worth about $234,000. Institutional investors and hedge funds 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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