TriNet Group, Inc. (NYSE:TNET – Get Free Report) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 1,220,000 shares, a decline of 19.7% from the June 30th total of 1,520,000 shares. Based on an average trading volume of 386,200 shares, the days-to-cover ratio is presently 3.2 days. Currently, 2.2% of the company’s stock are sold short.
TriNet Group Price Performance
NYSE:TNET traded down $0.63 during mid-day trading on Friday, hitting $100.37. The company’s stock had a trading volume of 369,529 shares, compared to its average volume of 370,310. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $95.49 and a 200-day moving average of $86.74. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 18.08 and a beta of 1.16. TriNet Group has a fifty-two week low of $60.60 and a fifty-two week high of $111.85.
TriNet Group (NYSE:TNET – Get Free Report) last issued its quarterly earnings data on Wednesday, April 26th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.58. TriNet Group had a return on equity of 46.74% and a net margin of 6.91%. The company had revenue of $394.00 million during the quarter, compared to analysts’ expectations of $364.55 million. As a group, equities analysts forecast that TriNet Group will post 5.19 EPS for the current fiscal year.
Insider Transactions at TriNet Group
In other TriNet Group news, SVP Alexander G. Warren sold 2,442 shares of TriNet Group stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $90.64, for a total value of $221,342.88. Following the completion of the transaction, the senior vice president now owns 39,058 shares of the company’s stock, valued at $3,540,217.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other TriNet Group news, CEO Burton M. Goldfield sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $94.99, for a total value of $664,930.00. Following the sale, the chief executive officer now owns 176,239 shares in the company, valued at $16,740,942.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alexander G. Warren sold 2,442 shares of TriNet Group stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $90.64, for a total value of $221,342.88. Following the sale, the senior vice president now directly owns 39,058 shares in the company, valued at approximately $3,540,217.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,478 shares of company stock valued at $1,724,374. 37.40% of the stock is currently owned by insiders.
Hedge Funds Weigh In On TriNet Group
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mawer Investment Management Ltd. raised its position in TriNet Group by 66.3% in the 1st quarter. Mawer Investment Management Ltd. now owns 4,394,957 shares of the business services provider’s stock worth $354,277,000 after purchasing an additional 1,752,532 shares during the last quarter. Wellington Management Group LLP raised its position in shares of TriNet Group by 11.4% during the first quarter. Wellington Management Group LLP now owns 4,190,526 shares of the business services provider’s stock worth $412,181,000 after acquiring an additional 430,430 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of TriNet Group by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,403,490 shares of the business services provider’s stock valued at $113,130,000 after acquiring an additional 48,461 shares during the period. State Street Corp boosted its holdings in TriNet Group by 1.5% in the first quarter. State Street Corp now owns 819,550 shares of the business services provider’s stock valued at $80,611,000 after acquiring an additional 12,253 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in TriNet Group by 1.3% in the first quarter. Geode Capital Management LLC now owns 743,104 shares of the business services provider’s stock worth $59,902,000 after purchasing an additional 9,775 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on TNET. Needham & Company LLC upped their price target on TriNet Group from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com cut shares of TriNet Group from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $87.00 price objective on shares of TriNet Group in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $89.40.
About TriNet Group
TriNet Group, Inc provides human resources (HR) consulting services, employee benefit options, payroll services, and employment risk mitigation services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.