Comerica Bank acquired a new position in TriNet Group, Inc. (NYSE:TNET – Get Rating) during the third quarter, Holdings Channel reports. The institutional investor acquired 25,044 shares of the business services provider’s stock, valued at approximately $1,861,000.
Several other large investors have also made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new stake in TriNet Group in the 3rd quarter valued at approximately $36,000. Captrust Financial Advisors boosted its position in shares of TriNet Group by 78.7% in the second quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 273 shares during the period. Parallel Advisors LLC grew its stake in shares of TriNet Group by 4,961.5% in the second quarter. Parallel Advisors LLC now owns 658 shares of the business services provider’s stock worth $51,000 after acquiring an additional 645 shares during the last quarter. Banque Cantonale Vaudoise increased its position in TriNet Group by 20.5% during the second quarter. Banque Cantonale Vaudoise now owns 742 shares of the business services provider’s stock worth $58,000 after acquiring an additional 126 shares during the period. Finally, Van ECK Associates Corp raised its stake in TriNet Group by 29.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,382 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 311 shares during the last quarter. Institutional investors and hedge funds own 91.65% of the company’s stock.
Wall Street Analysts Forecast Growth
TNET has been the topic of several research reports. StockNews.com assumed coverage on shares of TriNet Group in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Credit Suisse Group lowered their price target on TriNet Group from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 26th. Cowen reduced their price objective on TriNet Group from $75.00 to $70.00 in a research report on Wednesday, October 26th. Finally, Cowen lowered their price objective on TriNet Group from $70.00 to $67.00 in a research report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TriNet Group currently has an average rating of “Hold” and an average target price of $79.50.
Insider Transactions at TriNet Group
TriNet Group Stock Performance
NYSE:TNET opened at $76.10 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $69.62 and a 200 day moving average price of $74.88. The firm has a market capitalization of $4.74 billion, a PE ratio of 13.10 and a beta of 1.12. TriNet Group, Inc. has a 12-month low of $60.60 and a 12-month high of $103.36.
TriNet Group (NYSE:TNET – Get Rating) last posted its earnings results on Tuesday, October 25th. The business services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $0.81 by $0.63. TriNet Group had a return on equity of 51.00% and a net margin of 7.71%. The business had revenue of $369.00 million during the quarter, compared to the consensus estimate of $302.92 million. Research analysts anticipate that TriNet Group, Inc. will post 5.52 earnings per share for the current fiscal year.
TriNet Group Company Profile
TriNet Group, Inc provides human resources solutions including industry solutions to small and mid sized businesses. Its services include payroll processing tax administration, employee benefits and a human resource technology platform with online and mobile tools and also employee onboarding and termination, compensation reporting, expense management, and benefits enrollment and administration.
- Get a free copy of the StockNews.com research report on TriNet Group (TNET)
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