TriNet Group (TNET) Coverage Initiated at Credit Suisse Group
Stock analysts at Credit Suisse Group began coverage on shares of TriNet Group (NYSE:TNET) in a research report issued on Friday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $65.00 price target on the business services provider’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 14.68% from the stock’s previous close.
A number of other research firms have also recently weighed in on TNET. Stifel Nicolaus raised their price objective on TriNet Group from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Morgan Stanley raised their price objective on TriNet Group from $51.00 to $55.00 and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research raised TriNet Group from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Saturday, August 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $56.60.
Shares of TriNet Group traded up $0.45, reaching $56.68, during trading on Friday, Marketbeat.com reports. The company’s stock had a trading volume of 211,959 shares, compared to its average volume of 338,961. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 32.95 and a beta of 2.38. TriNet Group has a 1-year low of $31.52 and a 1-year high of $60.15.
In other news, SVP Brady Mickelsen sold 5,002 shares of the business’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $52.37, for a total value of $261,954.74. Following the completion of the transaction, the senior vice president now owns 55,833 shares of the company’s stock, valued at approximately $2,923,974.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Babinec sold 30,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $56.51, for a total value of $1,695,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 204,988 shares of company stock valued at $11,279,781. 38.90% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of TNET. MetLife Investment Advisors LLC acquired a new position in shares of TriNet Group in the 4th quarter valued at about $857,000. SG Americas Securities LLC acquired a new position in shares of TriNet Group in the 1st quarter valued at about $144,000. Mackay Shields LLC acquired a new position in shares of TriNet Group in the 1st quarter valued at about $4,169,000. Parametrica Management Ltd lifted its holdings in shares of TriNet Group by 12.1% in the 1st quarter. Parametrica Management Ltd now owns 12,657 shares of the business services provider’s stock valued at $586,000 after buying an additional 1,363 shares during the period. Finally, Chicago Equity Partners LLC lifted its holdings in shares of TriNet Group by 4.9% in the 1st quarter. Chicago Equity Partners LLC now owns 167,325 shares of the business services provider’s stock valued at $7,750,000 after buying an additional 7,865 shares during the period. 88.61% of the stock is owned by institutional investors and hedge funds.
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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