ARP Americas LP lowered its stake in TriNet Group Inc (NYSE:TNET) by 54.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,183 shares of the business services provider’s stock after selling 9,699 shares during the quarter. ARP Americas LP’s holdings in TriNet Group were worth $499,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC raised its position in shares of TriNet Group by 28.5% in the first quarter. ArrowMark Colorado Holdings LLC now owns 5,156,325 shares of the business services provider’s stock valued at $194,187,000 after buying an additional 1,144,336 shares in the last quarter. Norges Bank acquired a new stake in shares of TriNet Group in the fourth quarter valued at approximately $38,282,000. Harbor Spring Capital LLC raised its position in shares of TriNet Group by 83.2% in the first quarter. Harbor Spring Capital LLC now owns 1,024,842 shares of the business services provider’s stock valued at $38,596,000 after buying an additional 465,369 shares in the last quarter. Wellington Management Group LLP raised its position in shares of TriNet Group by 3.1% in the first quarter. Wellington Management Group LLP now owns 7,328,273 shares of the business services provider’s stock valued at $275,983,000 after buying an additional 217,867 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of TriNet Group by 987.0% in the first quarter. Russell Investments Group Ltd. now owns 213,165 shares of the business services provider’s stock valued at $8,051,000 after buying an additional 193,554 shares in the last quarter. 92.78% of the stock is currently owned by institutional investors.
NYSE:TNET traded down $1.78 during mid-day trading on Friday, reaching $66.00. The stock had a trading volume of 411,749 shares, compared to its average volume of 377,280. The stock has a 50-day simple moving average of $60.01 and a two-hundred day simple moving average of $52.58. The stock has a market capitalization of $4.44 billion, a PE ratio of 14.22 and a beta of 1.91. TriNet Group Inc has a 12 month low of $27.79 and a 12 month high of $75.32. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.18.
TriNet Group (NYSE:TNET) last posted its earnings results on Monday, July 27th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $1.04. The firm had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $268.46 million. TriNet Group had a net margin of 8.03% and a return on equity of 60.66%. The company’s revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Equities analysts expect that TriNet Group Inc will post 3.24 EPS for the current year.
In other TriNet Group news, Director Katherine August-Dewilde sold 59,747 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $67.40, for a total transaction of $4,026,947.80. Following the sale, the director now owns 5,773 shares of the company’s stock, valued at $389,100.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Babinec sold 51,205 shares of the business’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $62.76, for a total transaction of $3,213,625.80. Following the sale, the director now directly owns 5,773 shares in the company, valued at approximately $362,313.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 239,111 shares of company stock worth $14,444,013. Insiders own 39.70% of the company’s stock.
TNET has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on shares of TriNet Group from $66.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Zacks Investment Research raised shares of TriNet Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective on the stock in a research note on Saturday. Finally, Credit Suisse Group lifted their price objective on shares of TriNet Group from $44.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. TriNet Group currently has a consensus rating of “Buy” and a consensus price target of $72.75.
TriNet Group Profile
TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefit law compliance; and other services.
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