Two Sigma Investments LP grew its holdings in TriNet Group Inc (NYSE:TNET) by 311.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,810 shares of the business services provider’s stock after purchasing an additional 154,275 shares during the period. Two Sigma Investments LP owned about 0.29% of TriNet Group worth $9,037,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Suntrust Banks Inc. purchased a new stake in TriNet Group in the fourth quarter worth $218,000. Intrust Bank NA purchased a new stake in TriNet Group in the fourth quarter worth $231,000. Pitcairn Co. purchased a new stake in TriNet Group in the fourth quarter worth $230,000. Amalgamated Bank purchased a new stake in TriNet Group in the fourth quarter worth $250,000. Finally, Invictus RG increased its stake in TriNet Group by 885.6% in the fourth quarter. Invictus RG now owns 6,071 shares of the business services provider’s stock worth $269,000 after purchasing an additional 5,455 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.
A number of analysts have weighed in on TNET shares. Stifel Nicolaus increased their target price on TriNet Group to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Zacks Investment Research lowered TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. TriNet Group has an average rating of “Hold” and a consensus price target of $41.40.
TriNet Group Inc (TNET) opened at $47.48 on Tuesday. The company has a market capitalization of $3,274.38, a price-to-earnings ratio of 27.49 and a beta of 2.54. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.13 and a current ratio of 1.13. TriNet Group Inc has a 52 week low of $27.27 and a 52 week high of $49.00.
TriNet Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 27th that permits the company to buyback $120.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Martin Babinec sold 36,500 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $43.53, for a total transaction of $1,588,845.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Burton M. Goldfield sold 17,809 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $41.78, for a total value of $744,060.02. Following the transaction, the chief executive officer now owns 32,234 shares in the company, valued at approximately $1,346,736.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 216,464 shares of company stock worth $9,552,126. Insiders own 41.80% of the company’s stock.
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TriNet Group Profile
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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