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TriNet Group, Inc. (NYSE:TNET), a professional employer organization with a market capitalization of $4.6 billion, recently saw its Chief Technology Officer, Jeffery Jon Hayward, execute a significant sale of company 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 conducted at prices ranging from $89.31 to $90.08 per share, resulting in a total transaction value of approximately $697,194. The stock currently trades at $92.91, near its Fair Value according to InvestingPro analysis.
The sales were made as part of a pre-established 10b5-1 trading plan, which Hayward set up in August 2024. Following these transactions, Hayward retains ownership of 21,769 shares of TriNet Group's common stock. The filing also notes that the total securities beneficially owned include shares of unvested restricted stock units, excluding unvested performance-based restricted stock units that will be reported upon meeting certain performance criteria. InvestingPro data reveals that while management has been actively buying back shares, the company trades at a notably high Price/Book multiple of 35.3x. For deeper insights into TNET's valuation and 7 additional ProTips, consider accessing the comprehensive Pro Research Report.
In other recent news, TriNet, a provider of comprehensive human resources solutions, reported a shortfall in both its third-quarter earnings per share and revenue results, which led to a downgrade of its stock rating from Buy to Hold by Needham. The company also fell short of its own guidance midpoint. This led TD Cowen to adjust its price target for TriNet's shares but maintain a Buy rating. TriNet's fourth-quarter guidance was revised downwards, mainly due to higher than anticipated health costs. To address these challenges, TriNet has implemented price increases on insurance services and is managing discretionary expenses. The company expects a slight decline in Q4 revenues by 1-2% and a decrease in professional service revenues by 5-8%. Despite these challenges, TriNet reported an adjusted net income per diluted share of $1.17 and a marginal total revenue growth of 1% in the third quarter, and it continues to prioritize shareholder value, having returned $191 million to investors through stock repurchases and dividends. These are recent developments as TriNet navigates 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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