Woodline Partners LP Has $5.05 Million Stock Position in TriNet Group, Inc. $TNET

Key Points

• Woodline Partners LP increased its stake in TriNet Group by 38.3% in the first quarter, owning approximately 63,703 shares valued at $5.05 million.
• TriNet Group's most recent earnings report indicated a quarterly EPS of $1.15, beating estimates, and a revenue of $282.9 million, surpassing analysts' expectations.
• Institutional investors hold 96.81% of TriNet Group's stock, highlighting significant interest from major funds in the company.

Woodline Partners LP grew its position in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 63,703 shares of the business services provider's stock after purchasing an additional 17,625 shares during the quarter. Woodline Partners LP owned 0.13% of TriNet Group worth $5,048,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of TNET. American Century Companies Inc. increased its position in shares of TriNet Group by 183.3% during the 1st quarter. American Century Companies Inc. now owns 858,205 shares of the business services provider's stock valued at $68,004,000 after purchasing an additional 555,258 shares during the period. Wellington Management Group LLP increased its position in shares of TriNet Group by 24.3% during the 1st quarter. Wellington Management Group LLP now owns 2,021,749 shares of the business services provider's stock valued at $160,203,000 after purchasing an additional 394,847 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of TriNet Group during the 1st quarter valued at $27,037,000. Nuveen LLC acquired a new position in shares of TriNet Group during the 1st quarter valued at $18,315,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of TriNet Group by 11.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,123,201 shares of the business services provider's stock valued at $168,242,000 after purchasing an additional 225,196 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reduced their price objective on TriNet Group from $76.00 to $75.00 and set an "underweight" rating for the company in a research note on Monday, July 28th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $96.33.

Insiders Place Their Bets

In other news, SVP Anthony Shea Treadway sold 2,583 shares of the firm'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 completion of the sale, the senior vice president owned 29,437 shares of the company's stock, valued at $1,944,902.59. This trade represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ralph A. Clark sold 3,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $66.42, for a total value of $199,260.00. Following the completion of the sale, the director directly owned 9,390 shares of the company's stock, valued at approximately $623,683.80. This trade represents a 24.21% 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 valued at $560,612 over the last quarter. 38.10% of the stock is owned by insiders.

TriNet Group Stock Up 1.3%

Shares of TriNet Group stock traded up $0.86 during midday trading on Thursday, hitting $68.92. The company's stock had a trading volume of 57,647 shares, compared to its average volume of 437,025. The firm has a market capitalization of $3.35 billion, a P/E ratio of 23.68 and a beta of 0.84. The stock has a 50-day simple moving average of $67.54 and a 200-day simple moving average of $74.44. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 8.36. TriNet Group, Inc. has a 1-year low of $62.55 and a 1-year high of $99.78.

TriNet Group (NYSE:TNET - Get Free Report) last issued its earnings results on Friday, July 25th. The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.03 by $0.12. The business had revenue of $282.90 million during the quarter, compared to analysts' expectations of $278.93 million. TriNet Group had a return on equity of 208.35% and a net margin of 2.85%.During the same quarter last year, the firm posted $1.53 earnings per share. TriNet Group has set its FY 2025 guidance at 3.250-4.750 EPS. As a group, sell-side analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Wednesday, October 1st will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 1st. TriNet Group's dividend payout ratio (DPR) is 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.