Capula Management Ltd purchased a new stake in TriNet Group, Inc. (NYSE:TNET – Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 6,600 shares of the business services provider’s stock, valued at approximately $532,000.
A number of other institutional investors have also modified their holdings of the business. Amundi bought a new position in TriNet Group during the 4th quarter worth $33,000. Nisa Investment Advisors LLC increased its holdings in shares of TriNet Group by 2,866.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 445 shares of the business services provider’s stock worth $36,000 after acquiring an additional 430 shares during the period. Ronald Blue Trust Inc. lifted its position in TriNet Group by 24.0% in the 1st quarter. Ronald Blue Trust Inc. now owns 630 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 122 shares during the last quarter. Captrust Financial Advisors boosted its stake in TriNet Group by 78.7% during the 2nd quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 273 shares during the period. Finally, Royal Bank of Canada grew its position in TriNet Group by 31.7% in the 3rd quarter. Royal Bank of Canada now owns 1,017 shares of the business services provider’s stock worth $72,000 after purchasing an additional 245 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on TNET shares. TD Cowen raised TriNet Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $95.00 to $125.00 in a report on Monday, August 7th. Needham & Company LLC boosted their price target on TriNet Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Credit Suisse Group reissued a “neutral” rating and issued a $87.00 price target on shares of TriNet Group in a research note on Thursday, July 27th. Finally, StockNews.com began coverage on shares of TriNet Group in a research note on Thursday. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.20.
Check Out Our Latest Report on TriNet Group
TriNet Group Stock Performance
Shares of NYSE TNET opened at $104.75 on Friday. TriNet Group, Inc. has a 1 year low of $60.60 and a 1 year high of $111.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a fifty day moving average price of $99.08 and a two-hundred day moving average price of $89.69. The firm has a market cap of $6.25 billion, a P/E ratio of 18.87 and a beta of 1.18.
TriNet Group (NYSE:TNET – Get Free Report) last released its earnings results on Wednesday, July 26th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.45. TriNet Group had a return on equity of 45.40% and a net margin of 6.91%. The firm had revenue of $341.00 million for the quarter, compared to analyst estimates of $310.34 million. Research analysts forecast that TriNet Group, Inc. will post 6.09 EPS for the current fiscal year.
Insider Transactions at TriNet Group
In related news, CEO Burton M. Goldfield sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $94.99, for a total transaction of $664,930.00. Following the completion of the sale, the chief executive officer now directly owns 176,239 shares in the company, valued at $16,740,942.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Burton M. Goldfield sold 7,000 shares of TriNet Group stock in a transaction on Monday, June 26th. The stock was sold at an average price of $94.99, for a total value of $664,930.00. Following the transaction, the chief executive officer now directly owns 176,239 shares in the company, valued at approximately $16,740,942.61. 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 2,786 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $95.94, for a total value of $267,288.84. Following the sale, the chief executive officer now directly owns 176,239 shares in the company, valued at $16,908,369.66. The disclosure for this sale can be found here. Insiders have sold 3,396,287 shares of company stock valued at $363,152,105 in the last quarter. Insiders own 37.40% of the company’s stock.
TriNet Group Company Profile
TriNet Group, Inc provides human resources (HR) consulting services, employee benefit options, payroll services, and employment risk mitigation services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.
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