Cramer Rosenthal Mcglynn LLC lessened its stake in TriNet Group Inc (NYSE:TNET) by 28.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,467,091 shares of the business services provider’s stock after selling 574,358 shares during the period. TriNet Group makes up about 2.7% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 3rd biggest holding. Cramer Rosenthal Mcglynn LLC owned 2.10% of TriNet Group worth $99,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Hilton Capital Management LLC purchased a new position in TriNet Group in the 1st quarter worth approximately $79,000. NumerixS Investment Technologies Inc purchased a new stake in shares of TriNet Group in the 1st quarter valued at $130,000. Capital Fund Management S.A. purchased a new stake in shares of TriNet Group in the 2nd quarter valued at $203,000. Advisor Group Inc. boosted its stake in shares of TriNet Group by 5.2% in the 2nd quarter. Advisor Group Inc. now owns 3,158 shares of the business services provider’s stock valued at $215,000 after purchasing an additional 155 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of TriNet Group in the 2nd quarter valued at $218,000. 86.51% of the stock is owned by institutional investors and hedge funds.
In related news, insider Michael P. Murphy sold 966 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $68.81, for a total transaction of $66,470.46. Following the completion of the sale, the insider now directly owns 44,673 shares in the company, valued at approximately $3,073,949.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Edward Griese sold 482 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $68.63, for a total transaction of $33,079.66. Following the sale, the vice president now owns 61,938 shares of the company’s stock, valued at $4,250,804.94. The disclosure for this sale can be found here. Insiders sold a total of 141,990 shares of company stock valued at $9,844,243 in the last ninety days. 37.00% of the stock is owned by corporate insiders.
Shares of TriNet Group stock traded up $1.71 during trading on Friday, reaching $63.84. The company’s stock had a trading volume of 37,673 shares, compared to its average volume of 304,422. TriNet Group Inc has a 52-week low of $38.74 and a 52-week high of $76.92. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 24.84 and a beta of 1.89. The firm’s 50-day moving average is $68.97 and its two-hundred day moving average is $65.23. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.87.
TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.70. TriNet Group had a net margin of 5.16% and a return on equity of 46.35%. The company had revenue of $231.00 million during the quarter, compared to analysts’ expectations of $221.25 million. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that TriNet Group Inc will post 2.98 EPS for the current year.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Thursday, August 1st. Berenberg Bank assumed coverage on shares of TriNet Group in a research note on Friday. They issued a “buy” rating for the company. Finally, ValuEngine cut shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $60.70.
About TriNet Group
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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