TriNet Group Inc (TNET) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Aug 4, 2016.
Many Wall Street Analysts have commented on TriNet Group Inc. Company shares were Reiterated by Piper Jaffray on Aug 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 21 from a previous price target of $18 .Company shares were Reiterated by Deutsche Bank on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 25 from a previous price target of $20 .
On the company’s financial health, TriNet Group Inc reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.25. The company had revenue of $745.80 million for the quarter, compared to analysts expectations of $730.12 million. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.
TriNet Group Inc closed down -0.2 points or -0.95% at $20.92 with 13,50,068 shares getting traded on Tusday. Post opening the session at $22.81, the shares hit an intraday low of $20.35 and an intraday high of $22.97 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jul 15, 2016, Burton M. Goldfield (PRESIDENT, CEO and DIRECTOR) sold 55,000 shares at $22.50 per share price. According to the SEC, on Jul 11, 2016, John W Turner (SR. VP of SALES) sold 5,000 shares at $21.20 per share price. On Oct 26, 2015, Kenneth A Goldman (director) sold 20,000 shares at $20.00 per share price, according to the Form-4 filing with the securities and exchange commission.
TriNet Group Inc. is a provider of a human resources solution for small to medium-sized businesses (SMBs). The Company’s human resource solution includes services such as payroll processing human capital consulting employment law compliance and employee benefits including health insurance retirement plans and workers compensation insurance. Its services are delivered by HR professionals and enabled by its cloud-based technology platform which allows its clients and employees of clients to conduct HR transactions anytime and anywhere. The Company serves thousands of clients in specific industry vertical markets including technology life sciences property management professional services banking and financial services retail manufacturing and hospitality services as well as non-profit entities. As of December 31 2014 it served over 10000 clients in all 50 states of the United States the District of Columbia and Canada.