Westover Capital Advisors LLC Takes Position in TriNet Group, Inc. (NYSE:TNET)

Westover Capital Advisors LLC purchased a new stake in TriNet Group, Inc. (NYSE:TNET) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,255 shares of the business services provider’s stock, valued at approximately $387,000.

Several other institutional investors have also modified their holdings of TNET. SummerHaven Investment Management LLC lifted its stake in TriNet Group by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,999 shares of the business services provider’s stock valued at $951,000 after buying an additional 91 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of TriNet Group by 12.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 880 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 100 shares during the last quarter. Avion Wealth increased its holdings in shares of TriNet Group by 22.9% in the fourth quarter. Avion Wealth now owns 569 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 106 shares during the period. Blue Trust Inc. raised its stake in shares of TriNet Group by 15.7% during the fourth quarter. Blue Trust Inc. now owns 798 shares of the business services provider’s stock worth $93,000 after purchasing an additional 108 shares during the last quarter. Finally, Cornerstone Investment Partners LLC increased its stake in TriNet Group by 3.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 4,471 shares of the business services provider’s stock valued at $532,000 after buying an additional 138 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Trading Down 0.8 %

Shares of TNET traded down $0.77 during trading hours on Friday, hitting $101.16. The stock had a trading volume of 275,916 shares, compared to its average volume of 243,007. TriNet Group, Inc. has a 12-month low of $87.20 and a 12-month high of $134.67. The firm has a market cap of $5.12 billion, a P/E ratio of 16.58 and a beta of 1.16. The company has a debt-to-equity ratio of 6.88, a quick ratio of 1.05 and a current ratio of 1.06. The company’s fifty day simple moving average is $125.63 and its 200 day simple moving average is $118.76.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.46. TriNet Group had a net margin of 6.78% and a return on equity of 124.38%. The company had revenue of $326.00 million during the quarter, compared to analyst estimates of $300.36 million. Equities research analysts forecast that TriNet Group, Inc. will post 4.78 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Thursday, March 28th. TriNet Group’s dividend payout ratio is presently 16.39%.

Wall Street Analysts Forecast Growth

TNET has been the subject of a number of analyst reports. StockNews.com downgraded TriNet Group from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus lifted their price objective on TriNet Group from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Needham & Company LLC lowered their target price on TriNet Group from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, TD Cowen lifted their price target on TriNet Group from $129.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, TriNet Group currently has an average rating of “Hold” and an average target price of $117.50.

Insider Buying and Selling at TriNet Group

In related news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total value of $37,882.50. Following the sale, the director now owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total transaction of $37,882.50. Following the sale, the director now owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Samantha Wellington sold 14,271 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total value of $1,782,162.48. Following the transaction, the executive vice president now directly owns 48,562 shares in the company, valued at $6,064,422.56. The disclosure for this sale can be found here. Insiders sold a total of 31,427 shares of company stock worth $3,875,024 over the last ninety days. Company insiders own 37.10% of the company’s stock.

TriNet Group Company Profile

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.