California Public Employees Retirement System Increases Stake in TriNet Group Inc (TNET)

California Public Employees Retirement System grew its position in shares of TriNet Group Inc (NYSE:TNET) by 16.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,499 shares of the business services provider’s stock after buying an additional 5,164 shares during the quarter. California Public Employees Retirement System owned approximately 0.05% of TriNet Group worth $2,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of TriNet Group by 20.7% during the second quarter. Amalgamated Bank now owns 6,670 shares of the business services provider’s stock worth $373,000 after buying an additional 1,143 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of TriNet Group by 28.4% during the first quarter. Stifel Financial Corp now owns 6,041 shares of the business services provider’s stock worth $279,000 after buying an additional 1,335 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of TriNet Group by 31.6% during the second quarter. Janus Henderson Group PLC now owns 5,973 shares of the business services provider’s stock worth $334,000 after buying an additional 1,433 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of TriNet Group by 31.9% during the second quarter. Xact Kapitalforvaltning AB now owns 7,037 shares of the business services provider’s stock worth $394,000 after buying an additional 1,700 shares during the last quarter. Finally, Castle Rock Wealth Management LLC lifted its holdings in shares of TriNet Group by 15.9% during the second quarter. Castle Rock Wealth Management LLC now owns 13,845 shares of the business services provider’s stock worth $774,000 after buying an additional 1,903 shares during the last quarter. Institutional investors and hedge funds own 85.59% of the company’s stock.

A number of brokerages have recently commented on TNET. Credit Suisse Group set a $54.00 price target on TriNet Group and gave the stock a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Saturday, August 4th. Morgan Stanley boosted 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. Finally, Stifel Nicolaus boosted 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $59.00.

TNET opened at $47.83 on Wednesday. The company has a market cap of $3.25 billion, a PE ratio of 27.81 and a beta of 2.40. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.30. TriNet Group Inc has a 1 year low of $33.51 and a 1 year high of $60.15.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Monday, October 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.20. The business had revenue of $228.00 million for the quarter, compared to analysts’ expectations of $202.65 million. TriNet Group had a return on equity of 74.08% and a net margin of 6.54%. TriNet Group’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, research analysts predict that TriNet Group Inc will post 2.39 earnings per share for the current year.

In other news, Director Martin Babinec sold 30,000 shares of the business’s stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through this link. Also, insider Michael P. Murphy sold 9,363 shares of the business’s stock in a transaction that occurred on 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 owns 22,418 shares in the company, valued at $1,253,838.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,605 shares of company stock worth $9,691,464. 38.90% of the stock is currently owned by company insiders.

TriNet Group Company 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.

Further Reading: Cost of Debt

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

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