TriNet Group Inc (NYSE:TNET) Stake Reduced by Cramer Rosenthal Mcglynn LLC

Cramer Rosenthal Mcglynn LLC trimmed its position in shares of TriNet Group Inc (NYSE:TNET) by 28.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,467,091 shares of the business services provider’s stock after selling 574,358 shares during the quarter. TriNet Group comprises about 2.7% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 3rd biggest holding. Cramer Rosenthal Mcglynn LLC’s holdings in TriNet Group were worth $99,469,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Hilton Capital Management LLC purchased a new stake in shares of TriNet Group during the 1st quarter valued at about $79,000. NumerixS Investment Technologies Inc purchased a new stake in shares of TriNet Group during the 1st quarter valued at about $130,000. Capital Fund Management S.A. purchased a new stake in shares of TriNet Group during the 2nd quarter valued at about $203,000. ARP Americas LP purchased a new stake in shares of TriNet Group during the 1st quarter valued at about $209,000. Finally, Advisor Group Inc. boosted its holdings in shares of TriNet Group by 5.2% during the 2nd quarter. Advisor Group Inc. now owns 3,158 shares of the business services provider’s stock valued at $215,000 after acquiring an additional 155 shares during the last quarter. 86.51% of the stock is currently owned by institutional investors.

In other news, VP Edward Griese sold 482 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $68.63, for a total value of $33,079.66. Following the transaction, the vice president now owns 61,938 shares in the company, valued at approximately $4,250,804.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Burton M. Goldfield sold 6,000 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $67.86, for a total transaction of $407,160.00. Following the completion of the transaction, the chief executive officer now owns 319,973 shares in the company, valued at approximately $21,713,367.78. The disclosure for this sale can be found here. Insiders sold a total of 141,990 shares of company stock worth $9,844,243 in the last quarter. Company insiders own 37.00% of the company’s stock.

Shares of NYSE TNET traded up $1.71 during trading on Friday, reaching $63.84. 37,673 shares of the company traded hands, compared to its average volume of 304,422. The firm has a 50 day simple moving average of $68.97 and a 200-day simple moving average of $65.23. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $4.36 billion, a PE ratio of 24.84 and a beta of 1.89. TriNet Group Inc has a 52-week low of $38.74 and a 52-week high of $76.92.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. The firm had revenue of $231.00 million for the quarter, compared to the consensus estimate of $221.25 million. TriNet Group had a net margin of 5.16% and a return on equity of 46.35%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 EPS. As a group, research analysts predict that TriNet Group Inc will post 2.98 EPS for the current year.

TNET has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of TriNet Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research raised shares of TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Thursday, August 1st. Finally, Berenberg Bank initiated coverage on shares of TriNet Group in a report on Friday. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. TriNet Group has an average rating of “Buy” and a consensus price target of $60.70.

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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