California State Teachers Retirement System Decreases Holdings in TriNet Group Inc (NYSE:TNET)

California State Teachers Retirement System reduced its stake in TriNet Group Inc (NYSE:TNET) by 2.1% in the first quarter, HoldingsChannel.com reports. The fund owned 66,798 shares of the business services provider’s stock after selling 1,442 shares during the quarter. California State Teachers Retirement System’s holdings in TriNet Group were worth $3,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Advisory Services Network LLC boosted its stake in TriNet Group by 1,385.3% in the fourth quarter. Advisory Services Network LLC now owns 1,411 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 1,316 shares during the period. Quantamental Technologies LLC acquired a new position in TriNet Group in the first quarter valued at approximately $100,000. ARP Americas LP acquired a new position in TriNet Group in the first quarter valued at approximately $209,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of TriNet Group by 19.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,626 shares of the business services provider’s stock worth $217,000 after buying an additional 587 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in shares of TriNet Group by 33.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 5,706 shares of the business services provider’s stock worth $231,000 after buying an additional 1,425 shares during the period. Institutional investors own 86.73% of the company’s stock.

In other news, CEO Burton M. Goldfield sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $61.02, for a total transaction of $457,650.00. Following the completion of the transaction, the chief executive officer now directly owns 336,251 shares in the company, valued at $20,518,036.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Burton M. Goldfield sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $59.20, for a total value of $888,000.00. Following the transaction, the chief executive officer now owns 343,751 shares of the company’s stock, valued at $20,350,059.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 214,853 shares of company stock valued at $13,670,085. Insiders own 37.00% of the company’s stock.

Separately, Zacks Investment Research downgraded TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.63.

Shares of NYSE TNET opened at $69.01 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $4.84 billion, a PE ratio of 26.85 and a beta of 1.94. TriNet Group Inc has a 12-month low of $38.74 and a 12-month high of $69.81.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Monday, April 29th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.01). The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $233.65 million. TriNet Group had a return on equity of 54.21% and a net margin of 5.62%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. On average, analysts predict that TriNet Group Inc will post 2.92 earnings per share for the current year.

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

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