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TriNet Group (NYSE:TNET) Lifted to "Strong-Buy" at Zacks Investment Research

Last updated on Saturday, August 1, 2020 | 2020 MarketBeat

TriNet Group (NYSE:TNET) was upgraded by Zacks Investment Research from a "hold" rating to a "strong-buy" rating in a research note issued on Saturday, Zacks.com reports. The brokerage presently has a $78.00 price objective on the business services provider's stock. Zacks Investment Research's price target would indicate a potential upside of 18.18% from the company's current price.

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. "

Other analysts also recently issued reports about the stock. Stifel Nicolaus increased their price target on shares of TriNet Group from $66.00 to $79.00 and gave the stock a "buy" rating in a report on Tuesday. Credit Suisse Group increased their price target on shares of TriNet Group from $44.00 to $54.00 and gave the stock a "neutral" rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. The company has a consensus rating of "Buy" and a consensus price target of $72.75.

Shares of TNET stock traded down $1.78 during trading hours on Friday, hitting $66.00. The company's stock had a trading volume of 411,749 shares, compared to its average volume of 377,280. The company has a 50 day moving average of $60.01 and a 200 day moving average of $52.58. The stock has a market cap of $4.44 billion, a PE ratio of 14.22 and a beta of 1.91. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. TriNet Group has a 12-month low of $27.79 and a 12-month high of $75.32.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Monday, July 27th. The business services provider reported $2.03 EPS for the quarter, beating 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 business had revenue of $335.00 million for the quarter, compared to the consensus estimate of $268.46 million. During the same period in the prior year, the firm earned $0.70 EPS. The business's revenue for the quarter was up 45.0% on a year-over-year basis. As a group, analysts anticipate that TriNet Group will post 3.24 earnings per share for the current fiscal year.

In other TriNet Group news, Director Kenneth A. Goldman sold 2,436 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $50.00, for a total transaction of $121,800.00. Following the completion of the transaction, the director now directly owns 5,773 shares in the company, valued at $288,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Edward Griese sold 646 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $47.15, for a total transaction of $30,458.90. Following the transaction, the senior vice president now owns 39,631 shares of the company's stock, valued at $1,868,601.65. The disclosure for this sale can be found here. Insiders have sold 239,111 shares of company stock valued at $14,444,013 over the last 90 days. 39.70% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new stake in shares of TriNet Group in the first quarter valued at about $38,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of TriNet Group in the first quarter valued at about $50,000. UBS Group AG raised its position in shares of TriNet Group by 38.1% in the second quarter. UBS Group AG now owns 965 shares of the business services provider's stock valued at $59,000 after buying an additional 266 shares during the last quarter. Sowell Financial Services LLC raised its position in shares of TriNet Group by 17,844.4% in the first quarter. Sowell Financial Services LLC now owns 1,615 shares of the business services provider's stock valued at $61,000 after buying an additional 1,606 shares during the last quarter. Finally, Pearl River Capital LLC acquired a new stake in shares of TriNet Group in the first quarter valued at about $82,000. Institutional investors own 92.78% of the company's stock.

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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