TriNet Group (NYSE:TNET) Shares Gap Up Following Strong Earnings

Shares of TriNet Group, Inc. (NYSE:TNET) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $65.72, but opened at $68.77. TriNet Group shares last traded at $67.98, with a volume of 138,165 shares trading hands.

The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.03 by $0.12. TriNet Group had a net margin of 3.32% and a return on equity of 237.87%. The company had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $278.93 million. During the same quarter last year, the business earned $1.53 EPS.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, July 1st. TriNet Group’s dividend payout ratio (DPR) is presently 32.84%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price objective on shares of TriNet Group from $75.00 to $76.00 and gave the company an “underweight” rating in a research note on Monday, April 28th.

Insider Activity at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 1,437 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total value of $117,891.48. Following the sale, the chief technology officer directly owned 32,932 shares of the company’s stock, valued at approximately $2,701,741.28. This trade represents a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sidney A. Majalya sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total transaction of $41,570.00. Following the completion of the sale, the senior vice president directly owned 23,033 shares in the company, valued at $1,914,963.62. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,120 shares of company stock worth $175,291 over the last three months. Corporate insiders own 38.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Verdence Capital Advisors LLC lifted its position in TriNet Group by 3.0% during the second quarter. Verdence Capital Advisors LLC now owns 6,481 shares of the business services provider’s stock valued at $474,000 after buying an additional 188 shares in the last quarter. CWM LLC lifted its position in TriNet Group by 140.5% during the second quarter. CWM LLC now owns 582 shares of the business services provider’s stock valued at $43,000 after buying an additional 340 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in TriNet Group by 78.0% during the second quarter. KLP Kapitalforvaltning AS now owns 17,800 shares of the business services provider’s stock valued at $1,302,000 after buying an additional 7,800 shares in the last quarter. Hunter Perkins Capital Management LLC lifted its position in TriNet Group by 15.7% during the second quarter. Hunter Perkins Capital Management LLC now owns 10,855 shares of the business services provider’s stock valued at $794,000 after buying an additional 1,470 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in TriNet Group by 90.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 648,630 shares of the business services provider’s stock valued at $47,441,000 after buying an additional 307,440 shares in the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

TriNet Group Trading Up 4.9%

The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 20.58 and a beta of 0.84. The company has a debt-to-equity ratio of 14.43, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50-day simple moving average is $75.44 and its two-hundred day simple moving average is $79.23.

TriNet Group Company 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.