Bayforest Capital Ltd Raises Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

Bayforest Capital Ltd grew its holdings in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 543.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,001 shares of the business services provider's stock after purchasing an additional 10,980 shares during the quarter. TriNet Group makes up about 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 26th biggest position. Bayforest Capital Ltd's holdings in TriNet Group were worth $1,030,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. LRI Investments LLC increased its holdings in TriNet Group by 643.8% in the 4th quarter. LRI Investments LLC now owns 662 shares of the business services provider's stock valued at $60,000 after purchasing an additional 573 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in TriNet Group in the first quarter worth about $206,000. Xponance Inc. lifted its holdings in TriNet Group by 6.4% in the first quarter. Xponance Inc. now owns 2,613 shares of the business services provider's stock worth $207,000 after acquiring an additional 157 shares during the last quarter. AE Wealth Management LLC bought a new position in TriNet Group in the first quarter worth about $208,000. Finally, Mariner LLC lifted its holdings in TriNet Group by 13.7% in the fourth quarter. Mariner LLC now owns 2,763 shares of the business services provider's stock worth $251,000 after acquiring an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company's stock.

TriNet Group Stock Performance

TNET stock traded down $4.44 during trading hours on Friday, reaching $63.37. The stock had a trading volume of 809,230 shares, compared to its average volume of 448,766. The stock has a market capitalization of $3.08 billion, a PE ratio of 21.78 and a beta of 0.84. The stock has a 50-day simple moving average of $74.25 and a 200 day simple moving average of $78.65. TriNet Group, Inc. has a fifty-two week low of $63.23 and a fifty-two week high of $104.06. The company has a debt-to-equity ratio of 8.36, a current ratio of 1.10 and a quick ratio of 1.08.

TriNet Group (NYSE:TNET - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The business services provider reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.12. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. The business had revenue of $282.90 million for the quarter, compared to analyst estimates of $278.93 million. During the same period last year, the firm earned $1.53 earnings per share. Analysts predict that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, July 1st. TriNet Group's dividend payout ratio (DPR) is presently 37.80%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price target on shares of TriNet Group from $76.00 to $75.00 and set an "underweight" rating on the stock in a research note on Monday.

Insider Buying and Selling

In other news, CTO Jeffery Jon Hayward sold 1,437 shares of TriNet Group stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $82.04, for a total value of $117,891.48. Following the completion of the sale, the chief technology officer owned 32,932 shares in the company, valued at $2,701,741.28. The trade was a 4.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Sidney A. Majalya sold 500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total transaction of $41,570.00. Following the completion of the sale, the senior vice president owned 23,033 shares of the company's stock, valued at approximately $1,914,963.62. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,120 shares of company stock worth $175,291. 38.10% of the stock is currently owned by corporate insiders.

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.