ArrowMark Colorado Holdings LLC Takes Position in TriNet Group, Inc. (NYSE:TNET)

ArrowMark Colorado Holdings LLC acquired a new position in TriNet Group, Inc. (NYSE:TNET - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 391,840 shares of the business services provider's stock, valued at approximately $35,567,000. ArrowMark Colorado Holdings LLC owned approximately 0.79% of TriNet Group at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TNET. IFP Advisors Inc lifted its position in shares of TriNet Group by 45.5% in the 4th quarter. IFP Advisors Inc now owns 767 shares of the business services provider's stock worth $71,000 after buying an additional 240 shares during the last quarter. Avion Wealth grew its holdings in shares of TriNet Group by 14.9% during the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider's stock valued at $98,000 after purchasing an additional 140 shares during the last quarter. KBC Group NV raised its position in shares of TriNet Group by 43.7% during the 4th quarter. KBC Group NV now owns 1,365 shares of the business services provider's stock worth $124,000 after purchasing an additional 415 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of TriNet Group by 118.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the business services provider's stock worth $131,000 after purchasing an additional 785 shares during the last quarter. Finally, Xponance Inc. boosted its position in TriNet Group by 17.8% during the 4th quarter. Xponance Inc. now owns 2,456 shares of the business services provider's stock valued at $223,000 after purchasing an additional 371 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on TNET shares. TD Cowen lowered shares of TriNet Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from $104.00 to $74.00 in a research report on Tuesday, February 18th. Needham & Company LLC restated a "hold" rating on shares of TriNet Group in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. boosted their price target on TriNet Group from $75.00 to $76.00 and gave the stock an "underweight" rating in a research report on Monday, April 28th.

Insider Buying and Selling

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $41,616.00. Following the sale, the director now owns 36,991 shares in the company, valued at approximately $2,565,695.76. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $94,607.04. Following the completion of the transaction, the chief technology officer now owns 19,867 shares of the company's stock, valued at approximately $1,377,975.12. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.10% of the company's stock.

TriNet Group Price Performance

Shares of NYSE TNET traded down $1.19 during mid-day trading on Tuesday, reaching $79.47. 430,404 shares of the company traded hands, compared to its average volume of 383,076. The firm has a market cap of $3.85 billion, a PE ratio of 23.24 and a beta of 0.91. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. TriNet Group, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $116.26. The stock has a fifty day simple moving average of $76.81 and a 200-day simple moving average of $85.05.

TriNet Group (NYSE:TNET - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The business services provider reported $1.99 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.32. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $319.36 million. During the same quarter in the previous year, the business earned $2.18 EPS. Equities research analysts anticipate that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were paid a $0.275 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $1.10 annualized dividend and a dividend yield of 1.38%. This is a boost from TriNet Group's previous quarterly dividend of $0.25. TriNet Group's payout ratio is currently 32.84%.

About TriNet Group

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.