The stock of TriNet Group Inc (NYSE:TNET) hit a new 52-week high and has $26.21 target or 4.00% above today’s $25.20 share price. The 7 months bullish chart indicates low risk for the $1.73B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $26.21 price target is reached, the company will be worth $69.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 304,614 shares traded hands. TriNet Group Inc (NYSE:TNET) has risen 55.34% since April 25, 2016 and is uptrending. It has outperformed by 49.32% the S&P500.
Analysts await TriNet Group Inc (NYSE:TNET) to report earnings on March, 6. They expect $0.31 earnings per share, up 14.81% or $0.04 from last year’s $0.27 per share. TNET’s profit will be $21.28M for 20.32 P/E if the $0.31 EPS becomes a reality. After $0.23 actual earnings per share reported by TriNet Group Inc for the previous quarter, Wall Street now forecasts 34.78% EPS growth.
TriNet Group Inc (NYSE:TNET) Ratings Coverage
Out of 6 analysts covering TriNet Group Inc (NYSE:TNET), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. TriNet Group Inc has been the topic of 7 analyst reports since August 4, 2015 according to StockzIntelligence Inc. JP Morgan maintained TriNet Group Inc (NYSE:TNET) rating on Wednesday, August 5. JP Morgan has “Buy” rating and $24 price target. William Blair downgraded the shares of TNET in a report on Tuesday, August 4 to “Market Perform” rating. The company was downgraded on Thursday, August 4 by Morgan Stanley.
According to Zacks Investment Research, “TriNet Group, Inc. is a provider of a comprehensive human resources solution for small to medium-sized businesses. It offers payroll, tax administration, risk protection, performance management, compensation consulting, and employee benefit plans. The Company serves banking and financial services, biotech and life sciences, technology, non-profits, professional services, venture capital, and advertising and marketing industries. TriNet Group, Inc. is headquartered in San Leandro, California.”
More news for TriNet Group Inc (NYSE:TNET) were recently published by: Prnewswire.com, which released: “TriNet Group, Inc. Announces Retirement of CFO Bill Porter” on October 03, 2016. Nasdaq.com‘s article titled: “Trinet Group Reaches Analyst Target Price” and published on November 21, 2016 is yet another important article.
TNET Company Profile
TriNet Group, Inc. (TriNet), incorporated on January 26, 2000, is a well-known provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s human resource solutions include offerings, such as multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; federal, state and local labor, employment and benefit law compliance; risk mitigation, including employment practices claims management; expense and time management, and human capital consulting. The Company’s cloud HR software systems are used by its clients and their employees, whom it refers to as worksite employees (WSEs), to store and manage their HR-related information and conduct a range of HR-related transactions anytime and across the world. It has served over 12,700 clients in all over 50 states, the District of Columbia and Canada, co-employed over 324,000 WSEs.
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