Bayforest Capital Ltd Buys 10,980 Shares of TriNet Group, Inc. $TNET

Key Points

• Bayforest Capital Ltd has significantly increased its holdings in TriNet Group, raising its position by 543.3% during the first quarter, now owning 13,001 shares worth $1,030,000.
• Despite the boost in holdings by various institutional investors, JPMorgan Chase & Co. has downgraded TriNet Group's price target from $76.00 to $75.00, labeling it as "underweight."
• TriNet Group recently reported $1.15 earnings per share, exceeding estimates, with a revenue of $282.90 million, and also announced a quarterly dividend of $0.275 per share.

Bayforest Capital Ltd lifted its holdings in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 543.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,001 shares of the business services provider's stock after acquiring an additional 10,980 shares during the quarter. Bayforest Capital Ltd's holdings in TriNet Group were worth $1,030,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TNET. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in TriNet Group by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,575 shares of the business services provider's stock worth $6,068,000 after buying an additional 470 shares during the last quarter. Woodline Partners LP increased its position in TriNet Group by 38.3% in the first quarter. Woodline Partners LP now owns 63,703 shares of the business services provider's stock worth $5,048,000 after buying an additional 17,625 shares during the last quarter. New Vernon Capital Holdings II LLC grew its position in shares of TriNet Group by 9,748.4% in the first quarter. New Vernon Capital Holdings II LLC now owns 217,355 shares of the business services provider's stock valued at $17,223,000 after purchasing an additional 215,148 shares in the last quarter. Millennium Management LLC grew its position in shares of TriNet Group by 3,995.7% in the first quarter. Millennium Management LLC now owns 138,926 shares of the business services provider's stock valued at $11,008,000 after purchasing an additional 135,534 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of TriNet Group by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,009 shares of the business services provider's stock valued at $1,506,000 after purchasing an additional 819 shares in the last quarter. 96.81% of the stock is owned by hedge funds and other institutional investors.

TriNet Group Price Performance

NYSE:TNET traded down $2.46 during trading hours on Friday, hitting $69.11. 310,139 shares of the company's stock traded hands, compared to its average volume of 441,823. The firm has a market cap of $3.36 billion, a P/E ratio of 23.75 and a beta of 0.84. TriNet Group, Inc. has a 52 week low of $62.55 and a 52 week high of $99.78. The business's fifty day simple moving average is $67.74 and its two-hundred day simple moving average is $74.53. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 8.36.

TriNet Group (NYSE:TNET - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.12. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%.The company had revenue of $282.90 million during the quarter, compared to analyst estimates of $278.93 million. During the same quarter last year, the company earned $1.53 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. On average, research analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

Insider Activity

In other TriNet Group news, Director Ralph A. Clark sold 3,000 shares of TriNet Group stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $66.42, for a total transaction of $199,260.00. Following the completion of the sale, the director owned 9,390 shares of the company's stock, valued at $623,683.80. The trade was a 24.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeffery Jon Hayward sold 1,437 shares of TriNet Group stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.80, for a total value of $98,865.60. Following the sale, the chief technology officer directly owned 30,424 shares of the company's stock, valued at approximately $2,093,171.20. This trade represents a 4.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,395 shares of company stock valued at $560,612. 38.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price target on TriNet Group from $76.00 to $75.00 and set an "underweight" rating for the company in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, TriNet Group currently has a consensus rating of "Reduce" and a consensus target price of $96.33.

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.