Shares of TriNet Group, Inc. (NYSE:TNET) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $26.00.
A number of analysts have commented on TNET shares. BidaskClub upgraded TriNet Group from a “hold” rating to a “buy” rating in a research report on Thursday. Stifel Nicolaus reiterated a “buy” rating on shares of TriNet Group in a research report on Friday, April 14th. Deutsche Bank AG boosted their target price on TriNet Group from $30.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, May 3rd. TheStreet upgraded TriNet Group from a “c” rating to a “b” rating in a research report on Monday, March 27th. Finally, Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, March 8th.
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TriNet Group (NYSE TNET) traded down 1.16% on Tuesday, reaching $31.62. The company had a trading volume of 342,010 shares. The company has a market capitalization of $2.17 billion, a PE ratio of 28.80 and a beta of 2.94. TriNet Group has a 52-week low of $17.78 and a 52-week high of $33.49. The company’s 50-day moving average is $31.00 and its 200-day moving average is $27.84.
In other news, Director Martin Babinec sold 36,500 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.51, for a total value of $1,150,115.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Burton M. Goldfield sold 42,839 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $30.99, for a total value of $1,327,580.61. Following the completion of the transaction, the chief executive officer now directly owns 18,801 shares of the company’s stock, valued at $582,642.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 238,314 shares of company stock valued at $7,185,642. Insiders own 42.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TNET. Ameritas Investment Partners Inc. acquired a new position in TriNet Group during the first quarter valued at approximately $105,000. Envestnet Asset Management Inc. raised its position in TriNet Group by 13.3% in the first quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock valued at $119,000 after buying an additional 483 shares during the last quarter. Victory Capital Management Inc. raised its position in TriNet Group by 18.6% in the first quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock valued at $133,000 after buying an additional 723 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in TriNet Group during the first quarter valued at approximately $153,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in TriNet Group during the first quarter valued at approximately $208,000. Hedge funds and other institutional investors own 53.22% of the company’s stock.
TriNet Group Company Profile
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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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