California Public Employees Retirement System Sells 5,000 Shares of TriNet Group, Inc. (TNET)

California Public Employees Retirement System reduced its position in TriNet Group, Inc. (NYSE:TNET) by 16.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,700 shares of the business services provider’s stock after selling 5,000 shares during the period. California Public Employees Retirement System’s holdings in TriNet Group were worth $841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. raised its position in TriNet Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 16,389 shares of the business services provider’s stock valued at $537,000 after buying an additional 43 shares during the last quarter. PNC Financial Services Group Inc. raised its position in TriNet Group by 0.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 108,778 shares of the business services provider’s stock valued at $3,562,000 after buying an additional 716 shares during the last quarter. Victory Capital Management Inc. raised its position in TriNet Group by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 5,417 shares of the business services provider’s stock valued at $177,000 after buying an additional 813 shares during the last quarter. Russell Investments Group Ltd. raised its position in TriNet Group by 14.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 35,587 shares of the business services provider’s stock valued at $1,165,000 after buying an additional 4,368 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in TriNet Group by 596.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock valued at $187,000 after buying an additional 4,886 shares during the last quarter. Institutional investors own 55.12% of the company’s stock.

A number of research firms recently commented on TNET. Zacks Investment Research raised TriNet Group from a “sell” rating to a “strong-buy” rating and set a $47.00 price target for the company in a research report on Thursday, November 9th. BidaskClub raised TriNet Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Morgan Stanley raised their target price on TriNet Group from $31.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, November 3rd. J P Morgan Chase & Co lowered TriNet Group from a “neutral” rating to an “underweight” rating and raised their target price for the company from $33.00 to $36.00 in a research report on Thursday, August 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 target price (up from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.00.

Shares of TriNet Group, Inc. (NYSE TNET) opened at $42.25 on Wednesday. TriNet Group, Inc. has a 12-month low of $22.41 and a 12-month high of $43.53. The stock has a market capitalization of $2,949.65, a price-to-earnings ratio of 25.73 and a beta of 2.88. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.18 and a current ratio of 1.18.

TriNet Group (NYSE:TNET) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.30. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The firm had revenue of $205.90 million during the quarter, compared to analyst estimates of $174.89 million. During the same period last year, the firm posted $0.29 EPS. The business’s revenue was up 27.9% compared to the same quarter last year. sell-side analysts predict that TriNet Group, Inc. will post 1.77 earnings per share for the current year.

In other TriNet Group news, CEO Burton M. Goldfield sold 24,676 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $35.29, for a total value of $870,816.04. Following the completion of the transaction, the chief executive officer now owns 30,707 shares in the company, valued at approximately $1,083,650.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 2,694 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.94, for a total value of $91,434.36. Following the completion of the transaction, the chief executive officer now owns 31,225 shares of the company’s stock, valued at approximately $1,059,776.50. The disclosure for this sale can be found here. In the last three months, insiders sold 171,260 shares of company stock valued at $6,218,436. 41.80% of the stock is currently owned by insiders.

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About TriNet Group

TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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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