NumerixS Investment Technologies Inc purchased a new position in shares of TriNet Group Inc (NYSE:TNET) during the first quarter, Holdings Channel reports. The institutional investor purchased 2,200 shares of the business services provider’s stock, valued at approximately $130,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Services Network LLC boosted its holdings in shares of TriNet Group by 1,385.3% in the 4th quarter. Advisory Services Network LLC now owns 1,411 shares of the business services provider’s stock worth $59,000 after purchasing an additional 1,316 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of TriNet Group in the 1st quarter worth about $100,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TriNet Group by 21.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,039 shares of the business services provider’s stock worth $127,000 after purchasing an additional 546 shares in the last quarter. ARP Americas LP purchased a new position in shares of TriNet Group in the 1st quarter worth about $209,000. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of TriNet Group by 33.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 5,706 shares of the business services provider’s stock worth $231,000 after purchasing an additional 1,425 shares in the last quarter. Hedge funds and other institutional investors own 86.73% of the company’s stock.
TNET stock opened at $69.13 on Friday. TriNet Group Inc has a twelve month low of $38.74 and a twelve month high of $69.81. 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 $4.81 billion, a P/E ratio of 26.90 and a beta of 1.94.
TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Monday, April 29th. The business services provider reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.01). TriNet Group had a net margin of 5.62% and a return on equity of 54.21%. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $233.65 million. During the same period last year, the business earned $0.80 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. Equities research analysts forecast that TriNet Group Inc will post 2.92 earnings per share for the current fiscal year.
In other TriNet Group news, CEO Burton M. Goldfield sold 15,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $59.20, for a total transaction of $888,000.00. Following the sale, the chief executive officer now directly owns 343,751 shares in the company, valued at approximately $20,350,059.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Burton M. Goldfield sold 7,500 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $61.02, for a total value of $457,650.00. Following the sale, the chief executive officer now owns 336,251 shares in the company, valued at $20,518,036.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,653 shares of company stock worth $11,616,183. Company insiders own 37.00% of the company’s stock.
TNET has been the subject of a number of recent analyst reports. Zacks Investment Research lowered TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 17th. ValuEngine raised TriNet Group from a “hold” rating to a “buy” rating in a research report on Friday, February 15th. Finally, JPMorgan Chase & Co. raised TriNet Group from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $60.00 in a research report on Friday, February 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $58.63.
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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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