Cornerstone Investment Partners LLC Acquires New Shares in TriNet Group, Inc. (NYSE:TNET)

Cornerstone Investment Partners LLC acquired a new stake in shares of TriNet Group, Inc. (NYSE:TNETGet Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,247 shares of the business services provider’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC acquired a new position in TriNet Group during the 3rd quarter worth $36,000. Captrust Financial Advisors boosted its position in TriNet Group by 78.7% during the 2nd quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock worth $48,000 after acquiring an additional 273 shares during the period. Parallel Advisors LLC boosted its position in TriNet Group by 4,961.5% during the 2nd quarter. Parallel Advisors LLC now owns 658 shares of the business services provider’s stock worth $51,000 after acquiring an additional 645 shares during the period. Banque Cantonale Vaudoise boosted its position in TriNet Group by 20.5% during the 2nd quarter. Banque Cantonale Vaudoise now owns 742 shares of the business services provider’s stock worth $58,000 after acquiring an additional 126 shares during the period. Finally, Van ECK Associates Corp boosted its position in TriNet Group by 29.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,382 shares of the business services provider’s stock worth $107,000 after acquiring an additional 311 shares during the period. Institutional investors and hedge funds own 91.65% of the company’s stock.

TriNet Group Stock Down 1.2 %

Shares of TriNet Group stock opened at $75.14 on Wednesday. The stock’s fifty day moving average is $69.88 and its 200-day moving average is $74.76. The firm has a market capitalization of $4.68 billion, a PE ratio of 13.09 and a beta of 1.12. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. TriNet Group, Inc. has a 12-month low of $60.60 and a 12-month high of $103.36.

TriNet Group (NYSE:TNETGet Rating) last announced its earnings results on Tuesday, October 25th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.63. The company had revenue of $369.00 million for the quarter, compared to analyst estimates of $302.92 million. TriNet Group had a return on equity of 51.00% and a net margin of 7.71%. Equities analysts anticipate that TriNet Group, Inc. will post 5.52 earnings per share for the current year.

Insider Activity at TriNet Group

In related news, SVP Alexander G. Warren sold 3,280 shares of the company’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $70.11, for a total transaction of $229,960.80. Following the transaction, the senior vice president now directly owns 37,862 shares of the company’s stock, valued at $2,654,504.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other TriNet Group news, SVP Alexander G. Warren sold 3,280 shares of the company’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $70.11, for a total value of $229,960.80. Following the transaction, the senior vice president now directly owns 37,862 shares of the company’s stock, valued at approximately $2,654,504.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Burton M. Goldfield sold 6,250 shares of the company’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $71.12, for a total value of $444,500.00. Following the completion of the transaction, the chief executive officer now directly owns 205,137 shares in the company, valued at $14,589,343.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,405 shares of company stock valued at $1,511,558. Company insiders own 40.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Credit Suisse Group reduced their price target on TriNet Group from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, October 26th. StockNews.com started coverage on TriNet Group in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Cowen cut their price objective on TriNet Group from $70.00 to $67.00 in a report on Wednesday, January 11th. Finally, Cowen cut their price objective on TriNet Group from $75.00 to $70.00 in a report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, TriNet Group currently has a consensus rating of “Hold” and an average target price of $79.50.

TriNet Group Company Profile

(Get Rating)

TriNet Group, Inc provides human resources solutions including industry solutions to small and mid sized businesses. Its services include payroll processing tax administration, employee benefits and a human resource technology platform with online and mobile tools and also employee onboarding and termination, compensation reporting, expense management, and benefits enrollment and administration.

See Also

Institutional Ownership by Quarter for TriNet Group (NYSE:TNET)

Receive News & Ratings for TriNet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group and related companies with MarketBeat.com's FREE daily email newsletter.