Congress Asset Management Co. MA Cuts Stock Position in TriNet Group, Inc. (NYSE:TNET)

Congress Asset Management Co. MA trimmed its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 2.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 61,416 shares of the business services provider’s stock after selling 1,643 shares during the quarter. Congress Asset Management Co. MA’s holdings in TriNet Group were worth $8,137,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of TriNet Group by 11.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 897,009 shares of the business services provider’s stock worth $106,681,000 after purchasing an additional 89,797 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of TriNet Group by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 812,990 shares of the business services provider’s stock valued at $96,690,000 after buying an additional 37,851 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of TriNet Group by 2.1% in the third quarter. Royal London Asset Management Ltd. now owns 239,604 shares of the business services provider’s stock worth $27,920,000 after buying an additional 4,914 shares in the last quarter. Norges Bank acquired a new position in TriNet Group during the fourth quarter worth about $19,650,000. Finally, Wedge Capital Management L L P NC boosted its position in TriNet Group by 253.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 144,083 shares of the business services provider’s stock worth $17,136,000 after acquiring an additional 103,330 shares during the last quarter. Institutional investors and hedge funds own 96.81% of the company’s stock.

Analysts Set New Price Targets

TNET has been the topic of a number of research reports. Needham & Company LLC decreased their target price on shares of TriNet Group from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. StockNews.com lowered TriNet Group from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, TD Cowen raised their target price on TriNet Group from $129.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, TriNet Group presently has an average rating of “Hold” and an average target price of $117.50.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the transaction, the director now owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TriNet Group news, SVP Alexander G. Warren sold 1,867 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $103.74, for a total transaction of $193,682.58. Following the sale, the senior vice president now directly owns 32,661 shares in the company, valued at $3,388,252.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total transaction of $37,882.50. Following the sale, the director now directly owns 36,341 shares in the company, valued at approximately $3,671,167.82. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by insiders.

TriNet Group Trading Down 0.4 %

TNET traded down $0.40 during trading hours on Friday, reaching $103.35. The company’s stock had a trading volume of 388,617 shares, compared to its average volume of 310,940. The stock has a market cap of $5.23 billion, a PE ratio of 16.94 and a beta of 1.19. TriNet Group, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $134.67. The company has a debt-to-equity ratio of 6.88, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50-day moving average is $108.30 and its 200-day moving average is $117.19.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Friday, April 26th. The business services provider reported $1.86 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.36). The business had revenue of $357.00 million during the quarter, compared to analyst estimates of $380.41 million. TriNet Group had a net margin of 6.78% and a return on equity of 124.38%. As a group, equities research analysts predict that TriNet Group, Inc. will post 4.82 earnings per share for the current fiscal year.

TriNet Group Profile

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.