TNET Stock Summary and Trading Ideas (Trinet Group | NYSE:TNET)

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.

Trinet Group trades on the NYSE stock market under the symbol TNET.

As of April 24, 2024, TNET stock price declined to $127.60 with 203,365 million shares trading.

TNET has a beta of 0.67, meaning it tends to be less sensitive to market movements. TNET has a correlation of 0.08 to the broad based SPY ETF.

TNET has a market cap of $6.45 billion. This is considered a Mid Cap stock.

Last quarter Trinet Group reported $1 billion in Revenue and $1.60 earnings per share. This fell short of revenue expectation by $-5 million and exceeded earnings estimates by $.41.

In the last 3 years, TNET stock traded as high as $134.67 and as low as $60.61.

The top ETF exchange traded funds that TNET belongs to (by Net Assets): RAYD, VTI, IWM, VB, VXF.

TNET has outperformed the market in the last year with a return of +49.1%, while the SPY ETF gained +24.1%. In the last 3 month period, TNET beat the market returning +10.0%, while SPY returned +4.5%. However, in the most recent 2 weeks TNET has underperformed the stock market by returning -1.7%, while SPY returned -1.7%.

TNET support price is $127.47 and resistance is $131.85 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TNET stock will trade within this expected range on the day.