ARP Americas LLC purchased a new position in shares of TriNet Group, Inc. (NYSE:TNET) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,500 shares of the business services provider’s stock, valued at approximately $286,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Parametrica Management Ltd acquired a new position in TriNet Group during the 3rd quarter worth approximately $649,000. First Quadrant L P CA boosted its position in TriNet Group by 220.1% during the 3rd quarter. First Quadrant L P CA now owns 37,273 shares of the business services provider’s stock worth $1,253,000 after acquiring an additional 25,630 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in TriNet Group by 102.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 23,978 shares of the business services provider’s stock worth $785,000 after acquiring an additional 12,159 shares during the last quarter. Mitra Capital LLC acquired a new position in TriNet Group during the 2nd quarter worth approximately $1,355,000. Finally, State Street Corp boosted its position in TriNet Group by 5.3% during the 2nd quarter. State Street Corp now owns 832,811 shares of the business services provider’s stock worth $27,265,000 after acquiring an additional 41,959 shares during the last quarter. 55.12% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on TNET shares. Morgan Stanley upped their price target on TriNet Group from $31.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, November 3rd. BidaskClub downgraded TriNet Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a research report on Saturday, August 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. TriNet Group has a consensus rating of “Hold” and an average target price of $38.00.
Shares of TriNet Group, Inc. (NYSE TNET) opened at $42.69 on Monday. TriNet Group, Inc. has a 12 month low of $21.35 and a 12 month high of $43.53. The stock has a market capitalization of $2,966.33, a P/E ratio of 25.87 and a beta of 2.88. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.18 and a current ratio of 1.18.
TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.30. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The company had revenue of $205.90 million for the quarter, compared to analysts’ expectations of $174.89 million. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue was up 27.9% compared to the same quarter last year. research analysts forecast that TriNet Group, Inc. will post 1.77 earnings per share for the current year.
In related news, CEO Burton M. Goldfield sold 2,694 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $33.94, for a total value of $91,434.36. Following the sale, the chief executive officer now owns 31,225 shares in the company, valued at approximately $1,059,776.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael P. Murphy sold 3,851 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $34.01, for a total value of $130,972.51. Following the completion of the sale, the insider now owns 18,133 shares in the company, valued at approximately $616,703.33. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,260 shares of company stock worth $6,218,436. Company insiders own 41.80% of the company’s stock.
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TriNet Group Company 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.
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