UBS Asset Management Americas Inc. Has $298,000 Holdings in TriNet Group, Inc. (TNET)

UBS Asset Management Americas Inc. held its position in shares of TriNet Group, Inc. (NYSE:TNET) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,112 shares of the business services provider’s stock at the close of the second quarter. UBS Asset Management Americas Inc.’s holdings in TriNet Group were worth $298,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in TriNet Group by 11.0% in the first quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock worth $122,217,000 after acquiring an additional 418,005 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TriNet Group by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 950,762 shares of the business services provider’s stock worth $27,476,000 after acquiring an additional 44,115 shares in the last quarter. State Street Corp raised its position in TriNet Group by 3.4% in the first quarter. State Street Corp now owns 790,852 shares of the business services provider’s stock worth $22,856,000 after acquiring an additional 25,824 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in TriNet Group by 7.2% in the second quarter. TIAA CREF Investment Management LLC now owns 367,411 shares of the business services provider’s stock worth $12,029,000 after acquiring an additional 24,547 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in TriNet Group by 3.3% in the first quarter. Geode Capital Management LLC now owns 302,294 shares of the business services provider’s stock worth $8,736,000 after acquiring an additional 9,752 shares in the last quarter. Hedge funds and other institutional investors own 54.68% of the company’s stock.

TNET has been the subject of several research analyst reports. BidaskClub cut TriNet Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a research report on Saturday, August 5th. J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and raised their price target for the company from $33.00 to $36.00 in a research report on Thursday, August 17th. Finally, Morgan Stanley cut TriNet Group from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $27.00 to $31.00 in a research report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $37.40.

In other news, Director Martin Babinec sold 111,855 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $37.75, for a total value of $4,222,526.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Burton M. Goldfield sold 4,292 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $35.05, for a total value of $150,434.60. Following the completion of the sale, the chief executive officer now directly owns 29,282 shares in the company, valued at approximately $1,026,334.10. The disclosure for this sale can be found here. Insiders sold a total of 352,983 shares of company stock worth $12,988,957 in the last three months. Company insiders own 42.40% of the company’s stock.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Monday, July 31st. The business services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.18. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The company had revenue of $201.01 million for the quarter, compared to the consensus estimate of $168.27 million. During the same quarter in the previous year, the business earned $0.27 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year.

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TriNet Group Company Profile

TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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.

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

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