Cubist Systematic Strategies LLC Cuts Stake in TriNet Group, Inc. (NYSE:TNET)

Cubist Systematic Strategies LLC reduced its stake in TriNet Group, Inc. (NYSE:TNET - Free Report) by 81.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,873 shares of the business services provider's stock after selling 120,043 shares during the quarter. Cubist Systematic Strategies LLC owned 0.05% of TriNet Group worth $2,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of TriNet Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,992,008 shares of the business services provider's stock worth $271,585,000 after buying an additional 36,216 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of TriNet Group by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 5,121 shares of the business services provider's stock worth $495,000 after buying an additional 263 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of TriNet Group by 82.7% in the 4th quarter. Bank of New York Mellon Corp now owns 222,458 shares of the business services provider's stock worth $20,193,000 after buying an additional 100,728 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of TriNet Group by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 5,086 shares of the business services provider's stock worth $499,000 after buying an additional 169 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of TriNet Group by 201.0% in the 3rd quarter. Barclays PLC now owns 94,649 shares of the business services provider's stock worth $9,179,000 after buying an additional 63,201 shares during the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TNET. Needham & Company LLC reaffirmed a "hold" rating on shares of TriNet Group in a report on Thursday, March 13th. TD Cowen downgraded shares of TriNet Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $104.00 to $74.00 in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of TriNet Group from $75.00 to $76.00 and gave the company an "underweight" rating in a report on Monday, April 28th.

TriNet Group Price Performance

NYSE TNET opened at $82.02 on Monday. The company has a market cap of $3.97 billion, a PE ratio of 23.98 and a beta of 0.91. TriNet Group, Inc. has a 52 week low of $65.43 and a 52 week high of $116.26. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16. The firm's 50-day simple moving average is $77.46 and its two-hundred day simple moving average is $84.74.

TriNet Group (NYSE:TNET - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The business services provider reported $1.99 EPS for the quarter, beating the consensus estimate of $1.67 by $0.32. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $319.36 million. During the same period in the prior year, the firm earned $2.18 earnings per share. Research analysts predict that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from TriNet Group's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, April 1st. TriNet Group's dividend payout ratio is presently 32.84%.

Insider Transactions at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,364 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $94,607.04. Following the sale, the chief technology officer now directly owns 19,867 shares of the company's stock, valued at approximately $1,377,975.12. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 600 shares of the 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 completion of the sale, the director now directly owns 36,991 shares in the company, valued at approximately $2,565,695.76. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 38.10% of the company's stock.

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.

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