Wedge Capital Management L L P NC Buys 103,330 Shares of TriNet Group, Inc. (NYSE:TNET)

Wedge Capital Management L L P NC increased its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 253.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,083 shares of the business services provider’s stock after buying an additional 103,330 shares during the quarter. Wedge Capital Management L L P NC’s holdings in TriNet Group were worth $17,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in shares of TriNet Group in the 4th quarter valued at $662,000. Cornerstone Investment Partners LLC increased its stake in shares of TriNet Group by 3.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 4,471 shares of the business services provider’s stock valued at $532,000 after buying an additional 138 shares during the period. Xponance Inc. grew its stake in shares of TriNet Group by 25.3% during the fourth quarter. Xponance Inc. now owns 3,716 shares of the business services provider’s stock worth $442,000 after purchasing an additional 751 shares during the period. Federated Hermes Inc. grew its stake in shares of TriNet Group by 381.9% during the fourth quarter. Federated Hermes Inc. now owns 2,525 shares of the business services provider’s stock worth $300,000 after purchasing an additional 2,001 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TriNet Group by 56.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,636 shares of the business services provider’s stock worth $1,146,000 after purchasing an additional 3,476 shares during the period. 96.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the sale, the executive vice president now directly owns 48,562 shares in the company, valued at $6,064,422.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total value of $1,782,162.48. Following the completion of the transaction, the executive vice president now directly owns 48,562 shares in the company, valued at approximately $6,064,422.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,396 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $122.67, for a total value of $539,257.32. Following the sale, the chief financial officer now owns 65,999 shares of the company’s stock, valued at $8,096,097.33. The disclosure for this sale can be found here. Insiders sold 31,052 shares of company stock worth $3,837,142 over the last three months. Insiders own 37.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TNET. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of TriNet Group in a report on Friday, March 1st. Stifel Nicolaus upped their target price on TriNet Group from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, February 16th. StockNews.com upgraded TriNet Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, TD Cowen boosted their price target on TriNet Group from $129.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.17.

TriNet Group Price Performance

Shares of TNET stock traded up $0.54 during trading on Tuesday, hitting $130.22. The company had a trading volume of 5,343 shares, compared to its average volume of 220,581. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $6.59 billion, a P/E ratio of 19.98 and a beta of 1.09. The stock’s 50-day moving average price is $127.60 and its 200 day moving average price is $119.30. TriNet Group, Inc. has a one year low of $79.00 and a one year high of $134.67.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.46. The business had revenue of $326.00 million during the quarter, compared to analysts’ expectations of $300.36 million. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. Equities analysts expect that TriNet Group, Inc. will post 5.79 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, March 28th. TriNet Group’s payout ratio is presently 15.41%.

About TriNet Group

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.