Barclays PLC lowered its stake in shares of TriNet Group Inc (NYSE:TNET) by 48.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,338 shares of the business services provider’s stock after selling 34,950 shares during the quarter. Barclays PLC owned about 0.05% of TriNet Group worth $1,567,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of TriNet Group by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 512,894 shares of the business services provider’s stock valued at $28,692,000 after buying an additional 5,493 shares during the last quarter. Wells Fargo & Company MN lifted its position in TriNet Group by 3.3% in the 3rd quarter. Wells Fargo & Company MN now owns 166,133 shares of the business services provider’s stock valued at $9,357,000 after purchasing an additional 5,360 shares during the last quarter. SG Americas Securities LLC lifted its position in TriNet Group by 2,300.2% in the 3rd quarter. SG Americas Securities LLC now owns 50,885 shares of the business services provider’s stock valued at $2,866,000 after purchasing an additional 48,765 shares during the last quarter. JPMorgan Chase & Co. lifted its position in TriNet Group by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 163,863 shares of the business services provider’s stock valued at $9,229,000 after purchasing an additional 26,073 shares during the last quarter. Finally, AXA lifted its position in TriNet Group by 76.1% in the 3rd quarter. AXA now owns 192,700 shares of the business services provider’s stock valued at $10,853,000 after purchasing an additional 83,300 shares during the last quarter. 86.55% of the stock is currently owned by institutional investors and hedge funds.
TNET has been the topic of several recent research reports. Zacks Investment Research cut shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. ValuEngine upgraded shares of TriNet Group from a “hold” rating to a “buy” rating in a report on Friday, February 15th. William Blair upgraded shares of TriNet Group from a “market perform” rating to an “outperform” rating and set a $46.80 price target for the company in a report on Tuesday, February 12th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upgraded shares of TriNet Group from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $53.00 to $60.00 in a research note on Friday, February 15th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.63.
NYSE TNET traded up $0.38 during trading on Monday, reaching $62.25. The company’s stock had a trading volume of 250,475 shares, compared to its average volume of 351,165. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $4.32 billion, a PE ratio of 24.18 and a beta of 2.15. TriNet Group Inc has a 1-year low of $38.74 and a 1-year high of $63.65.
TriNet Group (NYSE:TNET) last posted its earnings results on Thursday, February 14th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.16. The firm had revenue of $225.00 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, equities analysts anticipate that TriNet Group Inc will post 2.88 EPS for the current year.
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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.
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