ARP Americas LP Reduces Stock Position in TriNet Group Inc (NYSE:TNET)

ARP Americas LP reduced its holdings in shares of TriNet Group Inc (NYSE:TNET) by 54.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,183 shares of the business services provider’s stock after selling 9,699 shares during the quarter. ARP Americas LP’s holdings in TriNet Group were worth $499,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new stake in shares of TriNet Group during the 1st quarter valued at $38,000. Steward Partners Investment Advisory LLC bought a new position in shares of TriNet Group during the 1st quarter valued at $50,000. Sowell Financial Services LLC grew its holdings in TriNet Group by 17,844.4% in the 1st quarter. Sowell Financial Services LLC now owns 1,615 shares of the business services provider’s stock worth $61,000 after acquiring an additional 1,606 shares during the last quarter. Pearl River Capital LLC bought a new stake in TriNet Group in the 1st quarter worth $82,000. Finally, Advisor Group Holdings Inc. bought a new stake in TriNet Group in the 1st quarter worth $89,000. Institutional investors own 92.78% of the company’s stock.

In other TriNet Group news, CEO Burton M. Goldfield sold 4,500 shares of TriNet Group stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $43.15, for a total value of $194,175.00. Following the completion of the transaction, the chief executive officer now directly owns 160,621 shares of the company’s stock, valued at $6,930,796.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth A. Goldman sold 2,436 shares of TriNet Group stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $50.00, for a total transaction of $121,800.00. Following the completion of the transaction, the director now directly owns 5,773 shares of the company’s stock, valued at $288,650. The disclosure for this sale can be found here. Insiders sold 239,111 shares of company stock valued at $14,444,013 over the last ninety days. Corporate insiders own 39.70% of the company’s stock.

A number of equities research analysts have recently weighed in on TNET shares. Credit Suisse Group lifted their target price on shares of TriNet Group from $44.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Zacks Investment Research raised shares of TriNet Group from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a research note on Saturday. Finally, Stifel Nicolaus lifted their target price on shares of TriNet Group from $66.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Two 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 a consensus target price of $72.75.

NYSE TNET traded down $1.78 during trading hours on Friday, reaching $66.00. 411,749 shares of the company’s stock traded hands, compared to its average volume of 377,280. TriNet Group Inc has a 52-week low of $27.79 and a 52-week high of $75.32. The firm has a market cap of $4.44 billion, a PE ratio of 14.22 and a beta of 1.91. The firm has a 50-day simple moving average of $60.01 and a 200 day simple moving average of $52.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.18.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Monday, July 27th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $1.04. The company had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $268.46 million. TriNet Group had a net margin of 8.03% and a return on equity of 60.66%. TriNet Group’s revenue was up 45.0% on a year-over-year basis. During the same period last year, the company posted $0.70 EPS. Sell-side analysts forecast that TriNet Group Inc will post 3.24 EPS for the current fiscal year.

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

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