TriNet Group (NYSE:TNET) Upgraded by Zacks Investment Research to Strong-Buy

Zacks Investment Research upgraded shares of TriNet Group (NYSE:TNET) from a hold rating to a strong-buy rating in a research note issued to investors on Saturday, Zacks.com reports. The brokerage currently has $78.00 target price on the business services provider’s stock.

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. “

A number of other equities research analysts have also issued reports on the company. Credit Suisse Group increased their price target on TriNet Group from $44.00 to $54.00 and gave the company a neutral rating in a research report on Tuesday, July 28th. Stifel Nicolaus increased their price target on TriNet Group from $66.00 to $79.00 and gave the company a buy rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $72.75.

TNET traded down $1.78 during mid-day trading on Friday, hitting $66.00. 411,749 shares of the stock were exchanged, compared to its average volume of 377,280. The firm’s fifty day moving average is $60.01 and its two-hundred day moving average is $52.58. TriNet Group has a 1-year low of $27.79 and a 1-year high of $75.32. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. The company has a market cap of $4.44 billion, a PE ratio of 14.22 and a beta of 1.91.

TriNet Group (NYSE:TNET) last posted its earnings results on Monday, July 27th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $1.04. TriNet Group had a return on equity of 60.66% and a net margin of 8.03%. The firm had revenue of $335.00 million for the quarter, compared to analyst estimates of $268.46 million. During the same quarter in the prior year, the company earned $0.70 EPS. TriNet Group’s revenue was up 45.0% on a year-over-year basis. As a group, research analysts anticipate that TriNet Group will post 3.24 earnings per share for the current year.

In other news, SVP Edward Griese sold 646 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $47.15, for a total value of $30,458.90. Following the transaction, the senior vice president now owns 39,631 shares in the company, valued at approximately $1,868,601.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katherine August-Dewilde sold 59,747 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $67.40, for a total value of $4,026,947.80. Following the completion of the transaction, the director now owns 5,773 shares in the company, valued at approximately $389,100.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 239,111 shares of company stock worth $14,444,013. Company insiders own 39.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baxter Bros Inc. purchased a new position in shares of TriNet Group in the 2nd quarter valued at about $1,150,000. UBS Group AG grew its stake in TriNet Group by 38.1% during the 2nd quarter. UBS Group AG now owns 965 shares of the business services provider’s stock worth $59,000 after buying an additional 266 shares during the last quarter. Cantillon Capital Management LLC grew its stake in TriNet Group by 0.9% during the 2nd quarter. Cantillon Capital Management LLC now owns 4,064,072 shares of the business services provider’s stock worth $247,664,000 after buying an additional 35,103 shares during the last quarter. Mackay Shields LLC purchased a new position in TriNet Group during the 2nd quarter worth approximately $2,072,000. Finally, M&T Bank Corp grew its stake in TriNet Group by 7.3% during the 2nd quarter. M&T Bank Corp now owns 16,750 shares of the business services provider’s stock worth $1,021,000 after buying an additional 1,133 shares during the last quarter. Institutional investors and hedge funds own 92.78% of the company’s stock.

TriNet Group Company Profile

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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