Cubist Systematic Strategies LLC Has $16.24 Million Position in TriNet Group, Inc. $TNET

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in TriNet Group, acquiring an additional 178,105 shares, bringing their total holdings to 204,978 shares, valued at approximately $16.2 million.
• TriNet Group reported EPS of $1.15 for the last quarter, exceeding analysts' expectations of $1.03, and had revenue of $282.9 million, surpassing the forecast of $278.93 million.
• The firm declared a quarterly dividend of $0.275 per share, with a yield of 1.5% and a payout ratio of 37.80%.

Cubist Systematic Strategies LLC increased its position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 662.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,978 shares of the business services provider's stock after purchasing an additional 178,105 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.42% of TriNet Group worth $16,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TNET. LRI Investments LLC lifted its holdings in TriNet Group by 643.8% during the 4th quarter. LRI Investments LLC now owns 662 shares of the business services provider's stock worth $60,000 after purchasing an additional 573 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in TriNet Group by 58.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,291 shares of the business services provider's stock worth $182,000 after purchasing an additional 845 shares during the last quarter. AlphaQuest LLC lifted its holdings in TriNet Group by 633.5% during the 1st quarter. AlphaQuest LLC now owns 2,472 shares of the business services provider's stock worth $196,000 after purchasing an additional 2,135 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in TriNet Group in the 1st quarter valued at $206,000. Finally, Xponance Inc. raised its holdings in TriNet Group by 6.4% in the 1st quarter. Xponance Inc. now owns 2,613 shares of the business services provider's stock valued at $207,000 after acquiring an additional 157 shares in the last quarter. 96.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. dropped their price objective 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 investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, TriNet Group currently has a consensus rating of "Reduce" and a consensus target price of $96.33.

Insider Buying and Selling at TriNet Group

In related news, Director Paul Edward Chamberlain sold 600 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $64.18, for a total transaction of $38,508.00. Following the sale, the director owned 38,440 shares in the company, valued at $2,467,079.20. The trade was a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Anthony Shea Treadway sold 2,583 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $66.07, for a total value of $170,658.81. Following the sale, the senior vice president owned 29,437 shares in the company, valued at $1,944,902.59. This represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,395 shares of company stock worth $560,612 over the last three months. 37.10% of the stock is owned by corporate insiders.

TriNet Group Price Performance

Shares of TNET traded up $0.40 during midday trading on Thursday, hitting $71.59. The company's stock had a trading volume of 282,835 shares, compared to its average volume of 447,629. TriNet Group, Inc. has a one year low of $62.55 and a one year high of $100.01. The company's fifty day simple moving average is $68.28 and its two-hundred day simple moving average is $74.57. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 8.36. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 24.60 and a beta of 0.84.

TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $278.93 million. During the same quarter last year, the company posted $1.53 EPS. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. As a group, equities analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Tuesday, July 1st were given a dividend of $0.275 per share. The ex-dividend date was Tuesday, July 1st. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. TriNet Group's payout ratio is currently 37.80%.

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.