TriNetTNET
Market Cap: $4.92B
About: TriNet offers outsourced payroll and human capital management solutions for small and midsize businesses via a professional employer organization model. Under the PEO model, TriNet enters a co-employment arrangement and acts as the employer of record for administrative and regulatory purposes for clients' employees, known as worksite employees. Clients leverage the scale and expertise of TriNet to access competitive employee benefits, share employment risk liability, access compliance support, and outsource mission-critical day-to-day HR functions such as payroll and tax administration. Following the acquisition of Zenefits and Clarus R+D in 2022, TriNet derives the minority of its revenue from self-service HCM software and R&D tax credit services.
Employees: 3,600
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
100% more funds holding in top 10
Funds holding in top 10: 1 [Q1] → 2 (+1) [Q2]
22.48% more ownership
Funds ownership: 67.36% [Q1] → 89.83% (+22.48%) [Q2]
16% more repeat investments, than reductions
Existing positions increased: 107 | Existing positions reduced: 92
5% less funds holding
Funds holding: 280 [Q1] → 265 (-15) [Q2]
28% less capital invested
Capital invested by funds: $6.31B [Q1] → $4.54B (-$1.77B) [Q2]
29% less first-time investments, than exits
New positions opened: 37 | Existing positions closed: 52
43% less call options, than puts
Call options by funds: $2.49M | Put options by funds: $4.39M
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
4 analyst ratings
Needham Kyle Peterson 52% 1-year accuracy 27 / 52 met price target | 44%upside $140 | Buy Reiterated | 11 Sept 2024 |
JP Morgan Tien-Tsin Huang 54% 1-year accuracy 28 / 52 met price target | 6%upside $103 | Underweight Maintained | 20 Aug 2024 |
Needham Kyle Peterson 52% 1-year accuracy 27 / 52 met price target | 44%upside $140 | Buy Reiterated | 29 Jul 2024 |
TD Cowen Jared Levine 40% 1-year accuracy 2 / 5 met price target | 21%upside $118 | Buy Maintained | 24 Jun 2024 |