Wedge Capital Management L L P NC Sells 131,132 Shares of TriNet Group, Inc. (NYSE:TNET)

Wedge Capital Management L L P NC reduced its position in TriNet Group, Inc. (NYSE:TNET - Free Report) by 80.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,237 shares of the business services provider's stock after selling 131,132 shares during the period. Wedge Capital Management L L P NC owned approximately 0.06% of TriNet Group worth $2,475,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TNET. Avion Wealth raised its stake in shares of TriNet Group by 14.9% in the fourth quarter. Avion Wealth now owns 1,081 shares of the business services provider's stock worth $98,000 after purchasing an additional 140 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in TriNet Group by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,344 shares of the business services provider's stock worth $304,000 after buying an additional 149 shares in the last quarter. IFP Advisors Inc grew its holdings in TriNet Group by 45.5% during the fourth quarter. IFP Advisors Inc now owns 767 shares of the business services provider's stock worth $71,000 after buying an additional 240 shares in the last quarter. Mariner LLC raised its position in TriNet Group by 13.7% in the 4th quarter. Mariner LLC now owns 2,763 shares of the business services provider's stock valued at $251,000 after buying an additional 333 shares during the last quarter. Finally, Xponance Inc. lifted its stake in TriNet Group by 17.8% during the 4th quarter. Xponance Inc. now owns 2,456 shares of the business services provider's stock valued at $223,000 after acquiring an additional 371 shares in the last quarter. Institutional investors and hedge funds own 96.81% of the company's stock.

Insider Activity

In other news, CTO Jeffery Jon Hayward sold 1,437 shares of the business's stock in a transaction that occurred 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 sale, the chief technology officer now owns 32,932 shares of the company's stock, valued at $2,701,741.28. The trade was a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Sidney A. Majalya sold 500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $83.14, for a total transaction of $41,570.00. Following the sale, the senior vice president now owns 23,033 shares in the company, valued at $1,914,963.62. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,120 shares of company stock valued at $175,291 in the last three months. Company insiders own 37.10% of the company's stock.

TriNet Group Stock Performance

TriNet Group stock traded down $1.21 during mid-day trading on Wednesday, reaching $80.65. 20,142 shares of the company's stock were exchanged, compared to its average volume of 377,206. The business's fifty day simple moving average is $80.13 and its 200 day simple moving average is $83.80. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 13.16. TriNet Group, Inc. has a one year low of $65.43 and a one year high of $116.26. The firm has a market capitalization of $3.90 billion, a PE ratio of 23.58 and a beta of 0.90.

TriNet Group (NYSE:TNET - Get Free Report) last announced its earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.32. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $319.36 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. During the same period last year, the firm posted $2.18 EPS. On average, sell-side analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.36%. This is a boost from TriNet Group's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, April 1st. TriNet Group's payout ratio is presently 32.84%.

Analysts Set New Price Targets

Several analysts have recently issued reports on TNET shares. TD Cowen lowered shares of TriNet Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $104.00 to $74.00 in a research note on Tuesday, February 18th. Needham & Company LLC restated a "hold" rating on shares of TriNet Group in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of TriNet Group from $75.00 to $76.00 and gave the company an "underweight" rating in a research note on Monday, April 28th.

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.