Janus Henderson Group PLC raised its stake in shares of TriNet Group Inc (NYSE:TNET) by 13,569.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 816,463 shares of the business services provider’s stock after buying an additional 810,490 shares during the period. Janus Henderson Group PLC’s holdings in TriNet Group were worth $45,983,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TNET. Itau Unibanco Holding S.A. purchased a new position in shares of TriNet Group in the 2nd quarter valued at about $132,000. Fox Run Management L.L.C. purchased a new position in shares of TriNet Group in the 3rd quarter valued at about $239,000. Raymond James & Associates purchased a new position in shares of TriNet Group in the 2nd quarter valued at about $246,000. Cornerstone Wealth Management LLC purchased a new position in shares of TriNet Group in the 2nd quarter valued at about $258,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of TriNet Group in the 2nd quarter valued at about $303,000. Institutional investors and hedge funds own 84.92% of the company’s stock.
In other TriNet Group news, Director Martin Babinec sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael P. Murphy sold 689 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $45.00, for a total value of $31,005.00. Following the sale, the insider now owns 24,730 shares of the company’s stock, valued at $1,112,850. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,182 shares of company stock valued at $7,318,933. 38.90% of the stock is owned by company insiders.
TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Monday, October 29th. The business services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.20. TriNet Group had a return on equity of 63.58% and a net margin of 6.67%. The firm had revenue of $228.00 million during the quarter, compared to analyst estimates of $202.65 million. During the same quarter in the previous year, the business earned $0.56 EPS. TriNet Group’s revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts forecast that TriNet Group Inc will post 2.54 earnings per share for the current fiscal year.
Several brokerages recently weighed in on TNET. Credit Suisse Group began coverage on TriNet Group in a research note on Friday, August 10th. They issued a “neutral” rating and a $65.00 price target for the company. ValuEngine lowered TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.00.
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About TriNet Group
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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