James Investment Research Inc. lowered its holdings in TriNet Group Inc (NYSE:TNET) by 54.1% in the 3rd quarter, Holdings Channel reports. The firm owned 32,308 shares of the business services provider’s stock after selling 38,069 shares during the period. James Investment Research Inc.’s holdings in TriNet Group were worth $1,820,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of TriNet Group in the second quarter worth $132,000. Brown Advisory Inc. purchased a new position in shares of TriNet Group in the first quarter worth $232,000. Fox Run Management L.L.C. purchased a new position in shares of TriNet Group in the third quarter worth $239,000. Raymond James & Associates purchased a new position in shares of TriNet Group in the second quarter worth $246,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of TriNet Group in the first quarter worth $247,000. Hedge funds and other institutional investors own 85.59% of the company’s stock.
In other TriNet Group news, Director Martin Babinec sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $54.93, for a total transaction of $1,647,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael P. Murphy sold 9,363 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $55.93, for a total value of $523,672.59. Following the sale, the insider now directly owns 22,418 shares of the company’s stock, valued at approximately $1,253,838.74. The disclosure for this sale can be found here. Insiders have sold 175,605 shares of company stock valued at $9,691,464 in the last three months. 38.90% of the stock is currently owned by corporate insiders.
TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Monday, October 29th. The business services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.20. The company had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $202.65 million. TriNet Group had a return on equity of 63.58% and a net margin of 6.67%. TriNet Group’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. As a group, research analysts anticipate that TriNet Group Inc will post 2.54 earnings per share for the current year.
A number of analysts recently commented on the company. Morgan Stanley upped their price objective on TriNet Group from $51.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, July 31st. Credit Suisse Group set a $54.00 price objective on TriNet Group and gave the company a “hold” rating in a research report on Tuesday, October 30th. ValuEngine cut TriNet Group from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Saturday, August 4th. Finally, Stifel Nicolaus upped their price objective on TriNet Group from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $59.00.
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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