Janus Henderson Group PLC trimmed its stake in shares of TriNet Group Inc (NYSE:TNET) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,976,340 shares of the business services provider’s stock after selling 238,832 shares during the period. Janus Henderson Group PLC owned about 2.82% of TriNet Group worth $133,996,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in TNET. Norges Bank purchased a new stake in shares of TriNet Group during the fourth quarter valued at $32,128,000. Assenagon Asset Management S.A. acquired a new position in TriNet Group during the first quarter valued at $17,640,000. Marshall Wace North America L.P. raised its position in TriNet Group by 12,851.1% during the first quarter. Marshall Wace North America L.P. now owns 162,925 shares of the business services provider’s stock valued at $9,733,000 after buying an additional 161,667 shares during the period. North Peak Capital Management LLC acquired a new position in TriNet Group during the first quarter valued at $8,864,000. Finally, Spark Investment Management LLC acquired a new position in TriNet Group during the first quarter valued at $6,236,000. 86.17% of the stock is owned by institutional investors and hedge funds.
NYSE:TNET opened at $67.70 on Thursday. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 26.34 and a beta of 1.89. TriNet Group Inc has a 1-year low of $38.74 and a 1-year high of $76.92. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.87. The company’s fifty day simple moving average is $71.03.
TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $231.00 million for the quarter, compared to analyst estimates of $221.25 million. TriNet Group had a return on equity of 46.35% and a net margin of 5.16%. TriNet Group’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 earnings per share. As a group, sell-side analysts anticipate that TriNet Group Inc will post 2.98 earnings per share for the current year.
Separately, Zacks Investment Research raised TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $60.70.
In related news, CEO Burton M. Goldfield sold 23,486 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $60.99, for a total transaction of $1,432,411.14. Following the transaction, the chief executive officer now owns 336,809 shares of the company’s stock, valued at $20,541,980.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director H Raymond Bingham sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $71.27, for a total transaction of $1,069,050.00. Following the transaction, the director now directly owns 140,497 shares in the company, valued at approximately $10,013,221.19. The disclosure for this sale can be found here. Insiders have sold 210,647 shares of company stock worth $14,276,949 over the last three months. 37.00% of the stock is owned by insiders.
TriNet Group Profile
TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. 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 benefit law compliance; and other services.
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