Raymond James & Associates lessened its stake in TriNet Group Inc (NYSE:TNET) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,868 shares of the business services provider’s stock after selling 734 shares during the quarter. Raymond James & Associates’ holdings in TriNet Group were worth $204,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in TriNet Group during the third quarter worth $106,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in TriNet Group by 21.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,039 shares of the business services provider’s stock worth $127,000 after acquiring an additional 546 shares in the last quarter. Intrust Bank NA raised its position in TriNet Group by 45.3% during the fourth quarter. Intrust Bank NA now owns 7,495 shares of the business services provider’s stock worth $314,000 after acquiring an additional 2,338 shares in the last quarter. Jane Street Group LLC bought a new stake in TriNet Group during the third quarter worth $385,000. Finally, Castle Rock Wealth Management LLC raised its position in TriNet Group by 28.5% during the fourth quarter. Castle Rock Wealth Management LLC now owns 9,130 shares of the business services provider’s stock worth $421,000 after acquiring an additional 2,023 shares in the last quarter. Institutional investors own 86.55% of the company’s stock.
Several research firms have issued reports on TNET. Zacks Investment Research raised shares of TriNet Group from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Thursday, February 7th. ValuEngine raised shares of TriNet Group from a “hold” rating to a “buy” rating in a research report on Friday, February 15th. JPMorgan Chase & Co. raised shares of TriNet Group from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $60.00 in a research report on Friday, February 15th. Finally, William Blair raised shares of TriNet Group from a “market perform” rating to an “outperform” rating and set a $46.80 price target on the stock in a research report on Tuesday, February 12th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. TriNet Group presently has an average rating of “Buy” and an average target price of $58.63.
TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Thursday, February 14th. The business services provider reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.16. The company had revenue of $225.00 million for the quarter, compared to analyst estimates of $211.58 million. TriNet Group had a net margin of 5.48% and a return on equity of 56.98%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 earnings per share. Equities research analysts anticipate that TriNet Group Inc will post 2.88 EPS for the current fiscal year.
In other TriNet Group news, CEO Burton M. Goldfield sold 8,780 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $45.96, for a total transaction of $403,528.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Edward Griese sold 482 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $61.80, for a total transaction of $29,787.60. Following the sale, the vice president now owns 65,369 shares in the company, valued at $4,039,804.20. The disclosure for this sale can be found here. Insiders sold 165,461 shares of company stock worth $9,425,863 over the last three months. Insiders own 37.00% of the company’s stock.
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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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