Oppenheimer Asset Management Inc. raised its stake in TriNet Group Inc (NYSE:TNET) by 125.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,958 shares of the business services provider’s stock after acquiring an additional 6,097 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in TriNet Group were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of TNET. Itau Unibanco Holding S.A. acquired a new stake in TriNet Group in the 2nd quarter valued at about $132,000. Brown Advisory Inc. acquired a new stake in TriNet Group in the 1st quarter valued at about $232,000. Fox Run Management L.L.C. acquired a new stake in TriNet Group in the 3rd quarter valued at about $239,000. Raymond James & Associates acquired a new stake in TriNet Group in the 2nd quarter valued at about $246,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in TriNet Group in the 1st quarter valued at about $247,000. Hedge funds and other institutional investors own 85.51% of the company’s stock.
In related news, SVP Brady Mickelsen sold 5,002 shares of TriNet Group stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $57.02, for a total transaction of $285,214.04. Following the transaction, the senior vice president now owns 61,583 shares of the company’s stock, valued at approximately $3,511,462.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Burton M. Goldfield sold 17,563 shares of TriNet Group stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $49.53, for a total transaction of $869,895.39. Following the transaction, the chief executive officer now directly owns 210,257 shares in the company, valued at approximately $10,414,029.21. The disclosure for this sale can be found here. Insiders sold a total of 145,605 shares of company stock worth $8,043,564 in the last ninety days. Insiders own 38.90% of the company’s stock.
Several research firms have weighed in on TNET. Stifel Nicolaus raised their price objective on shares of TriNet Group from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Morgan Stanley raised their price objective on shares of TriNet Group from $51.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, July 31st. Credit Suisse Group began coverage on shares of TriNet Group in a research report on Friday, August 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Zacks Investment Research raised shares of TriNet Group from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Saturday, August 4th. Finally, ValuEngine lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $59.00.
Shares of NYSE TNET opened at $46.47 on Wednesday. The stock has a market capitalization of $3.33 billion, a PE ratio of 27.02 and a beta of 2.40. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.20 and a current ratio of 1.20. TriNet Group Inc has a 1 year low of $38.26 and a 1 year high of $60.15.
TriNet Group (NYSE:TNET) last issued its earnings results on Monday, October 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.20. The company had revenue of $228.00 million for the quarter, compared to analyst estimates of $202.65 million. TriNet Group had a net margin of 6.67% and a return on equity of 63.58%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. Analysts expect that TriNet Group Inc will post 2.54 EPS 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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