TriNet Group, Inc. (TNET) Stake Lowered by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lowered its holdings in TriNet Group, Inc. (NYSE:TNET) by 4.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,512,960 shares of the business services provider’s stock after selling 70,200 shares during the quarter. TimesSquare Capital Management LLC owned 2.18% of TriNet Group worth $49,534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TNET. Wellington Management Group LLP grew its holdings in TriNet Group by 9.4% in the 1st quarter. Wellington Management Group LLP now owns 4,970,312 shares of the business services provider’s stock valued at $143,643,000 after buying an additional 428,077 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TriNet Group by 11.0% during the 1st quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock worth $122,217,000 after purchasing an additional 418,005 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of TriNet Group during the 1st quarter worth approximately $6,194,000. Carleon Capital Partners LLC acquired a new stake in shares of TriNet Group during the 2nd quarter worth approximately $7,946,000. Finally, Morgan Stanley grew its holdings in shares of TriNet Group by 85.9% during the 1st quarter. Morgan Stanley now owns 257,711 shares of the business services provider’s stock worth $7,447,000 after purchasing an additional 119,097 shares in the last quarter. 54.58% of the stock is currently owned by hedge funds and other institutional investors.

TNET has been the topic of several recent research reports. BidaskClub raised TriNet Group from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Stifel Nicolaus reissued a “buy” rating and set a $44.00 price objective (up previously from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Zacks Investment Research raised TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective on the stock in a report on Saturday, August 5th. J P Morgan Chase & Co lowered TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $33.00 to $36.00 in a report on Thursday, August 17th. Finally, Morgan Stanley lowered TriNet Group from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $27.00 to $31.00 in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $37.40.

Shares of TriNet Group, Inc. (NYSE TNET) traded down 0.61% during mid-day trading on Friday, reaching $34.02. The company had a trading volume of 462,055 shares. The firm’s 50 day moving average is $36.35 and its 200-day moving average is $32.03. The stock has a market capitalization of $2.36 billion, a P/E ratio of 22.86 and a beta of 2.94. TriNet Group, Inc. has a 12-month low of $17.78 and a 12-month high of $41.58.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.18. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The company had revenue of $201.01 million during the quarter, compared to the consensus estimate of $168.27 million. During the same period in the prior year, the firm earned $0.27 earnings per share. TriNet Group’s revenue was up 7.3% on a year-over-year basis. On average, analysts expect that TriNet Group, Inc. will post $1.49 earnings per share for the current fiscal year.

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In other TriNet Group news, SVP Brady Mickelsen sold 4,744 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $35.73, for a total transaction of $169,503.12. Following the completion of the transaction, the senior vice president now owns 38,842 shares of the company’s stock, valued at $1,387,824.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Babinec sold 7,872 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $35.11, for a total transaction of $276,385.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 467,762 shares of company stock valued at $16,662,060. 42.40% of the stock is owned by insiders.

TriNet Group Profile

TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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.

Institutional Ownership by Quarter for TriNet Group (NYSE:TNET)

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