TriNet Group, Inc. (NYSE:), a professional organization of employers with a market capitalization of $4.6 billion, recently saw its chief technology officer, Jeffrey John Hayward, execute a major sale of the company's stock. According to a recent SEC filing, Hayward sold a total of 7,784 shares of common stock on January 13, 2025. The sales were made at prices ranging from $89.31 to $90.08 per share, resulting in a total transaction value of approximately $697,194. The stock is currently trading at $92.91, close to its fair value according to InvestingPro analysis.
The sales were made as part of a predetermined 10b5-1 trading plan, which Hayward established in August 2024. Following these transactions, Hayward retains ownership of 21,769 shares of TriNet Group common stock. The filing also notes that the total securities beneficially owned includes shares of unvested restricted stock units, excluding nonvested restricted stock units based on performance which will be reported when certain performance criteria are met. InvestingPro The data reveals that while management has been actively buying back shares, the company is trading at a significantly higher price/book multiple of 35.3x. For deeper insights into TNET's valuation and 7 additional ProTips, consider accessing our comprehensive Pro Research report.
In other recent news, TriNet, a provider of comprehensive HR solutions, reported a shortfall in both its third-quarter earnings per share and revenue results, prompting a downgrade of its stock rating from buy to hold by Needham. The company also failed to reach its guidance midpoint. This led TD Cowen to adjust its price target on TriNet shares while maintaining a buy rating. TriNet's fourth-quarter guidance was revised downward, primarily due to higher-than-expected healthcare costs. To address these challenges, TriNet has implemented insurance rate increases and is managing discretionary expenses. The company expects a slight decline in fourth-quarter revenue of 1-2% and a decline in professional services revenue of 5-8%. Despite these challenges, TriNet reported adjusted net income per diluted share of $1.17 and marginal total revenue growth of 1% in the third quarter, and continues to prioritize shareholder value, returning $191 million to investors through reinvestments. Buying stocks and dividends. These are the latest developments as TriNet overcomes these challenges, with analysts from both Needham and TD Cowen suggesting potential growth for the company over the course of 2025.
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