Bayforest Capital Ltd Purchases 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 position in TriNet Group, Inc. (NYSE:TNET - Free Report) by 543.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,001 shares of the business services provider's stock after buying an additional 10,980 shares during the quarter. Bayforest Capital Ltd's holdings in TriNet Group were worth $1,030,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TNET. Ameriprise Financial Inc. grew its stake in shares of TriNet Group by 239.3% in the 4th quarter. Ameriprise Financial Inc. now owns 22,914 shares of the business services provider's stock valued at $2,080,000 after buying an additional 16,160 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of TriNet Group by 42.6% in the 4th quarter. BNP Paribas Financial Markets now owns 60,091 shares of the business services provider's stock valued at $5,454,000 after buying an additional 17,945 shares in the last quarter. Bank of America Corp DE grew its stake in shares of TriNet Group by 4.7% in the 4th quarter. Bank of America Corp DE now owns 184,032 shares of the business services provider's stock valued at $16,705,000 after buying an additional 8,299 shares in the last quarter. Deutsche Bank AG grew its stake in shares of TriNet Group by 49.4% in the 4th quarter. Deutsche Bank AG now owns 29,122 shares of the business services provider's stock valued at $2,643,000 after buying an additional 9,627 shares in the last quarter. Finally, LRT Capital Management LLC lifted its holdings in TriNet Group by 95.9% in the 4th quarter. LRT Capital Management LLC now owns 20,512 shares of the business services provider's stock worth $1,862,000 after purchasing an additional 10,039 shares during the last quarter. Institutional investors own 96.81% of the company's stock.

Insider Activity at TriNet Group

In other news, Director Ralph A. Clark sold 3,000 shares of the company's stock in a transaction that occurred on 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 transaction, the director directly owned 9,390 shares in the company, valued at $623,683.80. The trade was a 24.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sidney A. Majalya sold 775 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.80, for a total value of $53,320.00. Following the transaction, the senior vice president owned 21,708 shares of the company's stock, valued at approximately $1,493,510.40. This trade represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,395 shares of company stock valued at $560,612. 38.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

TriNet Group Stock Performance

TNET traded down $2.46 on Friday, hitting $69.11. The company had a trading volume of 310,139 shares, compared to its average volume of 392,576. The company's fifty day moving average price is $67.74 and its 200 day moving average price is $74.55. TriNet Group, Inc. has a 1-year low of $62.55 and a 1-year high of $99.78. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 23.75 and a beta of 0.84.

TriNet Group (NYSE:TNET - Get Free Report) last posted its earnings results on Friday, July 25th. The business services provider reported $1.15 earnings per share for the quarter, topping 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 firm had revenue of $282.90 million during the quarter, compared to analyst estimates of $278.93 million. During the same period in the previous year, the company earned $1.53 EPS. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. Equities analysts predict that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

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.