Wedge Capital Management L L P NC Has $2.48 Million Stock Position in TriNet Group, Inc. (NYSE:TNET)

Wedge Capital Management L L P NC trimmed its position in TriNet Group, Inc. (NYSE:TNET - Free Report) by 80.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund 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 about 0.06% of TriNet Group worth $2,475,000 as of its most recent filing with the SEC.

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

TriNet Group Trading Down 3.7%

TNET stock traded down $2.94 during midday trading on Friday, hitting $75.82. 294,522 shares of the company's stock were exchanged, compared to its average volume of 379,140. The stock's fifty day moving average price is $80.33 and its 200-day moving average price is $83.66. The company has a debt-to-equity ratio of 13.16, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $3.67 billion, a PE ratio of 22.17 and a beta of 0.90. TriNet Group, Inc. has a one year low of $65.43 and a one year high of $116.26.

TriNet Group (NYSE:TNET - Get Free Report) last posted its earnings results on Friday, April 25th. The business services provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.32. The firm had revenue of $1.29 billion for 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 in the previous year, the company posted $2.18 earnings per share. Research analysts predict that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st will be issued a $0.275 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.45%. TriNet Group's dividend payout ratio (DPR) is 32.84%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, SVP Sidney A. Majalya sold 500 shares of TriNet Group stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total value of $41,570.00. Following the sale, the senior vice president now owns 23,033 shares of the company's stock, valued at approximately $1,914,963.62. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeffery Jon Hayward sold 1,437 shares of TriNet Group stock in a transaction dated 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 now directly owns 32,932 shares in the company, valued at approximately $2,701,741.28. This represents a 4.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,120 shares of company stock worth $175,291 over the last three months. Corporate insiders own 37.10% of the company's stock.

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.