California Public Employees Retirement System lowered its stake in TriNet Group Inc. (NYSE:TNET) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,400 shares of the company’s stock after selling 900 shares during the period. California Public Employees Retirement System owned approximately 0.07% of TriNet Group worth $1,027,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of TNET. Menta Capital LLC bought a new position in shares of TriNet Group during the first quarter valued at about $250,000. Sterling Ridge Capital Management LP bought a new position in shares of TriNet Group during the first quarter valued at about $264,000. Fox Run Management L.L.C. bought a new position in shares of TriNet Group during the second quarter valued at about $462,000. Spark Investment Management LLC bought a new position in shares of TriNet Group during the first quarter valued at about $599,000. Finally, Squarepoint Ops LLC increased its position in shares of TriNet Group by 239.7% in the first quarter. Squarepoint Ops LLC now owns 44,500 shares of the company’s stock valued at $639,000 after buying an additional 31,400 shares during the period. Institutional investors and hedge funds own 78.91% of the company’s stock.
TriNet Group Inc. (NYSE:TNET) traded up 0.86% during mid-day trading on Tuesday, reaching $19.99. The company had a trading volume of 30,649 shares. TriNet Group Inc. has a one year low of $11.10 and a one year high of $22.97. The firm’s 50-day moving average is $21.00 and its 200-day moving average is $19.90. The firm has a market capitalization of $1.40 billion, a P/E ratio of 35.07 and a beta of 2.73.
TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. TriNet Group had a return on equity of 439.36% and a net margin of 1.43%. The firm had revenue of $745.80 million for the quarter, compared to analyst estimates of $148.11 million. During the same period last year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities research analysts anticipate that TriNet Group Inc. will post $1.16 earnings per share for the current fiscal year.
TNET has been the subject of several recent research reports. Zacks Investment Research raised TriNet Group from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a report on Saturday, August 6th. Jefferies Group boosted their price objective on TriNet Group from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Deutsche Bank AG boosted their price objective on TriNet Group from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Piper Jaffray Cos. upped their price target on TriNet Group from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. Finally, Morgan Stanley cut TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price target for the company. in a research note on Thursday, August 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $22.33.
In related news, Director H Raymond Bingham sold 20,000 shares of TriNet Group stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $21.10, for a total value of $422,000.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $422,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John W. Turner sold 5,000 shares of TriNet Group stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $21.85, for a total value of $109,250.00. Following the completion of the transaction, the vice president now directly owns 9,167 shares in the company, valued at $200,298.95. The disclosure for this sale can be found here. Insiders own 42.40% of the company’s stock.
About TriNet Group
TriNet Group, Inc (TriNet) is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s human resource solutions include offerings, such as multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; federal, state and local labor, employment and benefit law compliance; risk mitigation, including employment practices claims management; expense and time management, and human capital consulting.