State Street Corp Raises Holdings in TriNet Group, Inc. (TNET)

State Street Corp raised its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 832,811 shares of the business services provider’s stock after buying an additional 41,959 shares during the period. State Street Corp owned about 1.20% of TriNet Group worth $27,265,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TNET. Teachers Advisors LLC boosted its stake in shares of TriNet Group by 11.9% during the 1st quarter. Teachers Advisors LLC now owns 196,433 shares of the business services provider’s stock valued at $5,677,000 after buying an additional 20,888 shares during the period. California Public Employees Retirement System boosted its stake in shares of TriNet Group by 31.2% during the 1st quarter. California Public Employees Retirement System now owns 30,700 shares of the business services provider’s stock valued at $887,000 after buying an additional 7,300 shares during the period. Vanguard Group Inc. boosted its stake 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 valued at $122,217,000 after buying an additional 418,005 shares during the period. Geode Capital Management LLC boosted its stake in shares of TriNet Group by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 302,294 shares of the business services provider’s stock valued at $8,736,000 after buying an additional 9,752 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of TriNet Group by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 950,762 shares of the business services provider’s stock valued at $27,476,000 after buying an additional 44,115 shares during the period. 55.12% of the stock is owned by institutional investors.

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Several research firms recently issued reports on TNET. BidaskClub lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Zacks Investment Research raised shares of TriNet Group from a “sell” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research note on Thursday. J P Morgan Chase & Co lowered shares of TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $33.00 to $36.00 in a research note on Thursday, August 17th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Finally, Morgan Stanley lifted their price objective on shares of TriNet Group from $31.00 to $32.00 and gave the company an “underweight” rating in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. TriNet Group presently has an average rating of “Hold” and a consensus target price of $38.00.

In related news, CEO Burton M. Goldfield sold 2,694 shares of TriNet Group stock in a transaction on Monday, September 18th. The shares were sold at an average price of $33.94, for a total value of $91,434.36. Following the transaction, the chief executive officer now owns 31,225 shares in the company, valued at approximately $1,059,776.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Burton M. Goldfield sold 13,317 shares of TriNet Group stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $33.98, for a total transaction of $452,511.66. Following the completion of the transaction, the chief executive officer now owns 31,225 shares in the company, valued at approximately $1,061,025.50. The disclosure for this sale can be found here. Insiders sold a total of 171,260 shares of company stock worth $6,218,436 in the last quarter. Insiders own 41.80% of the company’s stock.

Shares of TriNet Group, Inc. (TNET) opened at $42.69 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.00. TriNet Group, Inc. has a 52 week low of $21.35 and a 52 week high of $43.53. The stock has a market cap of $2,966.33, a price-to-earnings ratio of 25.87 and a beta of 2.88.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.30. The business had revenue of $205.90 million during the quarter, compared to analyst estimates of $174.89 million. TriNet Group had a net margin of 4.15% and a return on equity of 156.96%. TriNet Group’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. research analysts forecast that TriNet Group, Inc. will post 1.77 earnings per share for the current year.

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.

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

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