TriNet (TNET) Receives “Buy” Rating from Stifel Nicolaus

TriNet (NYSE:TNET)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a research note issued on Thursday, MarketBeat Ratings reports. They presently have a $59.00 price target on the business services provider’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 17.09% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of TriNet from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. ValuEngine raised shares of TriNet from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Finally, Morgan Stanley raised shares of TriNet from an “underweight” rating to an “equal weight” rating and set a $46.00 price target on the stock in a research note on Wednesday, April 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. TriNet has a consensus rating of “Buy” and an average price target of $45.20.

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TriNet stock traded up $1.26 during trading hours on Thursday, reaching $50.39. 174,930 shares of the stock were exchanged, compared to its average volume of 379,091. The company has a market cap of $3,386.47, a P/E ratio of 29.12 and a beta of 2.50. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.13 and a current ratio of 1.13. TriNet has a 52-week low of $27.27 and a 52-week high of $50.79.

TriNet (NYSE:TNET) last announced its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.05). The firm had revenue of $204.00 million for the quarter, compared to analysts’ expectations of $198.33 million. TriNet had a return on equity of 102.76% and a net margin of 5.42%. equities analysts predict that TriNet will post 2.19 earnings per share for the current year.

TriNet declared that its board has authorized a share buyback program on Tuesday, February 27th that authorizes the company to buyback $120.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Martin Babinec sold 115,000 shares of the company’s stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $47.24, for a total transaction of $5,432,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 27,203 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $40.92, for a total transaction of $1,113,146.76. Following the transaction, the chief executive officer now directly owns 30,766 shares in the company, valued at $1,258,944.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 392,114 shares of company stock worth $17,977,509. Corporate insiders own 41.80% of the company’s stock.

Several large investors have recently bought and sold shares of TNET. Atairos Group Inc. acquired a new stake in TriNet in the 4th quarter valued at about $864,822,000. Deutsche Bank AG grew its stake in TriNet by 18.7% in the 4th quarter. Deutsche Bank AG now owns 515,972 shares of the business services provider’s stock valued at $22,877,000 after acquiring an additional 81,332 shares during the last quarter. Cornerstone Capital Management Holdings LLC. grew its stake in TriNet by 67.7% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 123,900 shares of the business services provider’s stock valued at $4,164,000 after acquiring an additional 50,000 shares during the last quarter. JPMorgan Chase & Co. grew its stake in TriNet by 11.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 500,930 shares of the business services provider’s stock valued at $17,437,000 after acquiring an additional 51,603 shares during the last quarter. Finally, Sei Investments Co. grew its stake in TriNet by 112.0% in the 3rd quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock valued at $266,000 after acquiring an additional 4,181 shares during the last quarter. 85.94% of the stock is currently owned by institutional investors and hedge funds.

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About TriNet

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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