Alps Advisors Inc. reduced its position in TriNet Group, Inc. (NYSE:TNET) by 18.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,296 shares of the business services provider’s stock after selling 3,093 shares during the quarter. Alps Advisors Inc.’s holdings in TriNet Group were worth $447,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of TriNet Group by 8.1% during the second quarter. Vanguard Group Inc. now owns 4,571,207 shares of the business services provider’s stock worth $149,661,000 after buying an additional 342,250 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of TriNet Group by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,026,624 shares of the business services provider’s stock worth $33,612,000 after purchasing an additional 75,862 shares during the last quarter. FMR LLC raised its holdings in shares of TriNet Group by 58.7% during the second quarter. FMR LLC now owns 906,982 shares of the business services provider’s stock worth $29,695,000 after purchasing an additional 335,381 shares during the last quarter. State Street Corp raised its holdings in shares of TriNet Group by 5.3% during the second quarter. State Street Corp now owns 832,811 shares of the business services provider’s stock worth $27,265,000 after purchasing an additional 41,959 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC purchased a new position in TriNet Group in the second quarter valued at $18,537,000. 56.52% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Brady Mickelsen sold 4,744 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $42.73, for a total value of $202,711.12. Following the completion of the sale, the senior vice president now owns 29,392 shares in the company, valued at approximately $1,255,920.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Edward Griese sold 3,494 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $42.40, for a total transaction of $148,145.60. Following the completion of the transaction, the vice president now owns 2,893 shares of the company’s stock, valued at approximately $122,663.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 139,412 shares of company stock valued at $5,336,015. 41.80% of the stock is owned by company insiders.
A number of analysts have recently commented on TNET shares. BidaskClub cut shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley boosted their price target on shares of TriNet Group from $31.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of TriNet Group from a “sell” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a research report on Thursday, November 9th. Finally, J P Morgan Chase & Co lowered shares of TriNet Group from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. TriNet Group presently has an average rating of “Hold” and a consensus target price of $38.00.
Shares of TriNet Group, Inc. (NYSE TNET) traded up $0.15 during trading hours on Wednesday, hitting $43.80. 316,206 shares of the company’s stock were exchanged, compared to its average volume of 303,018. TriNet Group, Inc. has a 52 week low of $23.91 and a 52 week high of $45.11. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $3,056.66, a P/E ratio of 26.66 and a beta of 3.02.
TriNet Group (NYSE:TNET) last issued its earnings results 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 analysts’ expectations of $174.89 million. TriNet Group had a net margin of 4.15% and a return on equity of 156.96%. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 EPS. research analysts expect that TriNet Group, Inc. will post 1.77 earnings per share for the current fiscal year.
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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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