StockNews.com began coverage on shares of TriNet Group (NYSE:TNET – Get Rating) in a research report released on Thursday. The firm issued a buy rating on the business services provider’s stock.
Separately, Cowen upped their target price on TriNet Group from $67.00 to $74.00 and gave the company a market perform rating in a research report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $81.25.
TriNet Group Trading Down 1.4 %
Shares of NYSE:TNET opened at $76.69 on Thursday. The business’s 50-day moving average is $79.18 and its 200 day moving average is $73.92. TriNet Group has a 1 year low of $60.60 and a 1 year high of $103.36. The firm has a market capitalization of $4.60 billion, a P/E ratio of 13.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17.
In other news, CEO Burton M. Goldfield sold 6,250 shares of the stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $65.09, for a total value of $406,812.50. Following the transaction, the chief executive officer now directly owns 205,137 shares of the company’s stock, valued at $13,352,367.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Alexander G. Warren sold 3,280 shares of the company’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $70.11, for a total value of $229,960.80. Following the sale, the senior vice president now owns 37,862 shares in the company, valued at $2,654,504.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Burton M. Goldfield sold 6,250 shares of the company’s stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $65.09, for a total value of $406,812.50. Following the completion of the sale, the chief executive officer now owns 205,137 shares in the company, valued at approximately $13,352,367.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,835 shares of company stock valued at $1,887,011. Company insiders own 40.60% of the company’s stock.
Institutional Trading of TriNet Group
A number of hedge funds have recently modified their holdings of TNET. Amundi purchased a new position in TriNet Group during the fourth quarter worth approximately $33,000. Exchange Traded Concepts LLC purchased a new position in TriNet Group during the third quarter worth approximately $36,000. Ronald Blue Trust Inc. boosted its position in TriNet Group by 176.1% during the fourth quarter. Ronald Blue Trust Inc. now owns 508 shares of the business services provider’s stock worth $36,000 after purchasing an additional 324 shares in the last quarter. Captrust Financial Advisors boosted its position in TriNet Group by 78.7% during the second quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock worth $48,000 after purchasing an additional 273 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in TriNet Group by 31.7% during the third quarter. Royal Bank of Canada now owns 1,017 shares of the business services provider’s stock worth $72,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 91.65% of the company’s stock.
About TriNet Group
TriNet Group, Inc provides human capital management (HCM) solutions to small and mid-sized businesses. Its services include HR expertise, benefit options, payroll services, risk mitigation, and a technology platform. The company was founded by Martin Babinec in 1988 and is headquartered in Dublin, CA.
- Get a free copy of the StockNews.com research report on TriNet Group (TNET)
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