MQS Management LLC Invests $210,000 in TriNet Group, Inc. (NYSE:TNET)

MQS Management LLC purchased a new position in shares of TriNet Group, Inc. (NYSE:TNET – Get Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,946 shares of the business services provider’s stock, valued at approximately $210,000.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of TriNet Group in the third quarter valued at $36,000. Captrust Financial Advisors raised its stake in shares of TriNet Group by 78.7% in the second quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 273 shares in the last quarter. Royal Bank of Canada raised its stake in shares of TriNet Group by 31.7% in the third quarter. Royal Bank of Canada now owns 1,017 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 245 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of TriNet Group by 246.8% in the second quarter. Lazard Asset Management LLC now owns 1,661 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Point72 Hong Kong Ltd raised its stake in shares of TriNet Group by 1,609.7% in the first quarter. Point72 Hong Kong Ltd now owns 1,761 shares of the business services provider’s stock valued at $173,000 after purchasing an additional 1,658 shares in the last quarter. 91.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TNET. StockNews.com began coverage on TriNet Group in a research report on Thursday. They issued a “buy” rating on the stock. Cowen upped their price target on TriNet Group from $67.00 to $74.00 and gave the company a “market perform” rating in a research report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $81.25.

Insider Transactions at TriNet Group

In other news, CEO Burton M. Goldfield sold 6,250 shares of the stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $65.09, for a total transaction of $406,812.50. Following the sale, the chief executive officer now owns 205,137 shares in the company, valued at $13,352,367.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Alexander G. Warren sold 3,280 shares of the firm’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 owns 37,862 shares in the company, valued at $2,654,504.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Burton M. Goldfield sold 6,250 shares of the firm’s stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $65.09, for a total value of $406,812.50. Following the completion of the transaction, the chief executive officer now owns 205,137 shares in the company, valued at approximately $13,352,367.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,835 shares of company stock worth $1,887,011. Insiders own 40.60% of the company’s stock.

TriNet Group Stock Performance

Shares of NYSE:TNET opened at $76.69 on Friday. The business’s fifty day moving average price is $79.18 and its two-hundred day moving average price is $73.98. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 13.79 and a beta of 1.16. TriNet Group, Inc. has a fifty-two week low of $60.60 and a fifty-two week high of $103.36.

TriNet Group (NYSE:TNET – Get Rating) last announced its earnings results on Wednesday, February 15th. The business services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.13 by $0.78. The company had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $250.09 million. TriNet Group had a return on equity of 52.06% and a net margin of 7.31%. As a group, analysts predict that TriNet Group, Inc. will post 4.26 EPS for the current fiscal year.

TriNet Group Company Profile

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TriNet Group, Inc provides human capital management (HCM) solutions to small and mid-sized businesses. Its services include HR expertise, benefit options, payroll services, risk mitigation, and a technology platform. The company was founded by Martin Babinec in 1988 and is headquartered in Dublin, CA.