New York State Teachers Retirement System Continues to Hold Stake in TriNet Group, Inc. (TNET)

New York State Teachers Retirement System continued to hold its stake in TriNet Group, Inc. (NYSE:TNET) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,700 shares of the business services provider’s stock at the end of the first quarter. New York State Teachers Retirement System’s holdings in TriNet Group were worth $107,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TNET. Ameritas Investment Partners Inc. purchased a new stake in shares of TriNet Group during the first quarter worth about $105,000. Envestnet Asset Management Inc. raised its stake in shares of TriNet Group by 13.3% in the first quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock worth $119,000 after buying an additional 483 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of TriNet Group by 18.6% in the first quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock worth $133,000 after buying an additional 723 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of TriNet Group during the first quarter worth about $153,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of TriNet Group during the first quarter worth about $208,000. 52.87% of the stock is owned by hedge funds and other institutional investors.

TriNet Group, Inc. (NYSE TNET) opened at 35.42 on Friday. The firm’s 50-day moving average is $35.21 and its 200 day moving average is $30.71. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 23.80 and a beta of 2.94. TriNet Group, Inc. has a 52 week low of $17.78 and a 52 week high of $41.58.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.27 by $0.18. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The company had revenue of $201.01 million during the quarter, compared to analysts’ expectations of $168.27 million. During the same quarter in the previous year, the business earned $0.27 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts expect that TriNet Group, Inc. will post $1.48 EPS for the current year.

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A number of brokerages recently issued reports on TNET. BidaskClub lowered shares of TriNet Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. J P Morgan Chase & Co lowered shares of TriNet Group from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $33.00 to $36.00 in a research note on Thursday. Stifel Nicolaus increased their target price on shares of TriNet Group from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Finally, Deutsche Bank AG increased their target price on shares of TriNet Group from $30.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.00.

In other news, Director Martin Babinec sold 36,500 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.51, for a total transaction of $1,150,115.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wayne B. Lowell sold 20,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $39.15, for a total value of $783,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 477,218 shares of company stock valued at $16,809,545 in the last quarter. Company insiders own 42.40% of the company’s stock.

About TriNet Group

TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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.

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

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