Connor Clark & Lunn Investment Management Ltd. Invests $1.54 Million in TriNet Group, Inc. $TNET

Key Points

• Connor Clark & Lunn Investment Management initiated a $1.54 million position in TriNet Group during the second quarter, while institutional investors collectively own 96.81% of the stock.
• TriNet reported quarterly earnings of $1.55 per share, exceeding estimates of $0.93, on revenue of $1.18 billion. The company also maintained its quarterly dividend at $0.29 per share, equivalent to a 1.6% annual yield.
• Analysts remain cautious: TriNet has a consensus “Hold” rating and a $56.80 target price, below its reported share price of $70.60. Recent insider activity was also weighted toward selling, though the transactions were conducted under pre-arranged trading plans.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 31,076 shares of the business services provider's stock, valued at approximately $1,538,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of TriNet Group at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Quarry LP raised its position in TriNet Group by 524.7% during the third quarter. Quarry LP now owns 456 shares of the business services provider's stock valued at $31,000 after purchasing an additional 383 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of TriNet Group in the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of TriNet Group by 160.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 479 shares of the business services provider's stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Essential Partners LLC boosted its holdings in shares of TriNet Group by 427.4% in the 1st quarter. Essential Partners LLC now owns 944 shares of the business services provider's stock valued at $34,000 after purchasing an additional 765 shares in the last quarter. Finally, Cache Advisors LLC bought a new position in shares of TriNet Group in the 1st quarter valued at $36,000. 96.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TNET has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on TriNet Group from $45.00 to $50.00 and gave the stock an "underweight" rating in a research note on Friday, July 31st. TD Cowen lifted their price target on shares of TriNet Group from $46.00 to $49.00 and gave the company a "hold" rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of TriNet Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday. UBS Group lowered their price objective on shares of TriNet Group from $62.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, May 5th. Finally, Zacks Research downgraded shares of TriNet Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 3rd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, TriNet Group presently has a consensus rating of "Hold" and a consensus target price of $56.80.

TriNet Group Price Performance

TriNet Group stock opened at $70.60 on Friday. The stock has a 50-day moving average price of $61.73 and a two-hundred day moving average price of $48.15. TriNet Group, Inc. has a 12 month low of $33.60 and a 12 month high of $73.07. The company has a market capitalization of $3.24 billion, a PE ratio of 18.88 and a beta of 0.95. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 7.17.

TriNet Group (NYSE:TNET - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The business services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.62. TriNet Group had a return on equity of 227.28% and a net margin of 3.58%.The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same period in the previous year, the business posted $1.15 earnings per share. TriNet Group has set its FY 2026 guidance at 4.500-5.100 EPS. Analysts expect that TriNet Group, Inc. will post 3.87 EPS for the current year.

TriNet Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, July 1st. TriNet Group's payout ratio is presently 31.02%.

Insiders Place Their Bets

In other TriNet Group news, SVP Sidney A. Majalya sold 775 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $68.53, for a total value of $53,110.75. Following the completion of the transaction, the senior vice president directly owned 53,212 shares in the company, valued at approximately $3,646,618.36. This represents a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anthony Shea Treadway sold 1,068 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $69.80, for a total transaction of $74,546.40. Following the transaction, the senior vice president directly owned 65,506 shares of the company's stock, valued at $4,572,318.80. The trade was a 1.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,616 shares of company stock valued at $524,320 in the last ninety days. 40.00% of the stock is currently owned by insiders.

About TriNet Group

TriNet Group, Inc is a leading professional employer organization (PEO) that offers integrated human capital management solutions to small and medium-size businesses. Through a bundled suite of services, TriNet manages payroll administration, employee benefits, workers' compensation, risk mitigation and federal and state compliance. Its cloud-based platform provides clients with centralized access to HR tools, analytics and streamlined workforce management capabilities.

Founded in 1988 and headquartered in Dublin, California, TriNet has grown to support thousands of organizations across the United States.

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