Victory Capital Management Inc. Lowers Stake in TriNet Group Inc (NYSE:TNET)

Victory Capital Management Inc. reduced its holdings in shares of TriNet Group Inc (NYSE:TNET) by 12.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,741 shares of the business services provider’s stock after selling 1,124 shares during the period. Victory Capital Management Inc.’s holdings in TriNet Group were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TNET. Nisa Investment Advisors LLC bought a new stake in shares of TriNet Group in the first quarter worth approximately $38,000. Steward Partners Investment Advisory LLC bought a new stake in shares of TriNet Group in the first quarter worth approximately $50,000. Pearl River Capital LLC bought a new stake in TriNet Group during the first quarter valued at approximately $82,000. NumerixS Investment Technologies Inc grew its position in TriNet Group by 1,173.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 2,546 shares of the business services provider’s stock valued at $144,000 after buying an additional 2,346 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in TriNet Group by 37.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,873 shares of the business services provider’s stock valued at $146,000 after buying an additional 1,065 shares during the period. 93.09% of the stock is owned by institutional investors.

Several brokerages recently issued reports on TNET. Credit Suisse Group boosted their target price on shares of TriNet Group from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Zacks Investment Research upgraded shares of TriNet Group from a “strong sell” rating to a “hold” rating in a research report on Saturday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. TriNet Group presently has a consensus rating of “Hold” and an average target price of $58.00.

TNET opened at $59.77 on Wednesday. The firm has a market cap of $3.95 billion, a P/E ratio of 17.53 and a beta of 1.94. TriNet Group Inc has a 1-year low of $27.79 and a 1-year high of $76.92. The company has a 50 day simple moving average of $53.68 and a two-hundred day simple moving average of $51.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.18 and a quick ratio of 1.18.

TriNet Group (NYSE:TNET) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $0.83 by $0.58. TriNet Group had a net margin of 6.05% and a return on equity of 48.47%. The firm had revenue of $283.00 million for the quarter, compared to the consensus estimate of $245.95 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts anticipate that TriNet Group Inc will post 2.86 earnings per share for the current year.

In related news, CEO Burton M. Goldfield sold 6,000 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $44.17, for a total transaction of $265,020.00. Following the sale, the chief executive officer now owns 162,392 shares of the company’s stock, valued at $7,172,854.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Martin Babinec sold 42,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $60.05, for a total transaction of $2,522,100.00. Following the sale, the director now directly owns 5,773 shares in the company, valued at approximately $346,668.65. The disclosure for this sale can be found here. Insiders sold 153,892 shares of company stock worth $8,285,141 in the last three months. Insiders own 39.70% of the company’s stock.

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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Institutional Ownership by Quarter for TriNet Group (NYSE:TNET)

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