TriNet Group, Inc. (NYSE:TNET – Get Free Report) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 2,660,000 shares, a decrease of 43.9% from the August 31st total of 4,740,000 shares. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 568,400 shares, the days-to-cover ratio is currently 4.7 days.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. Credit Suisse Group reissued a “neutral” rating and issued a $87.00 price target on shares of TriNet Group in a research note on Thursday, July 27th. JPMorgan Chase & Co. upped their price objective on shares of TriNet Group from $90.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, August 22nd. Needham & Company LLC upped their price objective on shares of TriNet Group from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, September 11th. TD Cowen raised shares of TriNet Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $95.00 to $125.00 in a research note on Monday, August 7th. Finally, StockNews.com began coverage on shares of TriNet Group in a research report on Thursday, August 17th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, TriNet Group presently has a consensus rating of “Hold” and a consensus target price of $99.67.
Insider Transactions at TriNet Group
In other news, EVP Samantha Wellington sold 10,225 shares of TriNet Group stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $111.19, for a total value of $1,136,917.75. Following the completion of the sale, the executive vice president now directly owns 85,012 shares of the company’s stock, valued at approximately $9,452,484.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Alexander G. Warren sold 1,928 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $104.81, for a total value of $202,073.68. Following the transaction, the senior vice president now owns 35,559 shares of the company’s stock, valued at approximately $3,726,938.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Samantha Wellington sold 10,225 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $111.19, for a total transaction of $1,136,917.75. Following the transaction, the executive vice president now owns 85,012 shares of the company’s stock, valued at $9,452,484.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,436,093 shares of company stock worth $367,772,025. 40.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On TriNet Group
A number of institutional investors and hedge funds have recently made changes to their positions in TNET. Dimensional Fund Advisors LP lifted its position in shares of TriNet Group by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,403,490 shares of the business services provider’s stock worth $113,130,000 after purchasing an additional 48,461 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in TriNet Group during the first quarter worth $1,290,000. Kaydan Wealth Management Inc. purchased a new position in TriNet Group during the first quarter valued at $345,000. Capula Management Ltd purchased a new position in TriNet Group during the first quarter valued at $532,000. Finally, JLB & Associates Inc. lifted its stake in shares of TriNet Group by 5.8% in the first quarter. JLB & Associates Inc. now owns 39,541 shares of the business services provider’s stock worth $3,187,000 after buying an additional 2,167 shares in the last quarter. 93.58% of the stock is owned by hedge funds and other institutional investors.
TriNet Group Trading Up 3.3 %
NYSE:TNET opened at $116.90 on Thursday. The company’s 50 day moving average price is $107.77 and its 200-day moving average price is $95.74. TriNet Group has a 52 week low of $60.60 and a 52 week high of $118.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.54. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 21.06 and a beta of 1.16.
TriNet Group (NYSE:TNET – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. The firm had revenue of $341.00 million for the quarter, compared to analysts’ expectations of $310.34 million. TriNet Group had a net margin of 6.91% and a return on equity of 45.40%. On average, equities research analysts forecast that TriNet Group will post 6.09 earnings per share for the current fiscal year.
TriNet Group Company Profile
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.