Woodline Partners LP Buys Shares of 46,078 TriNet Group, Inc. (NYSE:TNET)

Woodline Partners LP purchased a new position in TriNet Group, Inc. (NYSE:TNET - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 46,078 shares of the business services provider's stock, valued at approximately $4,182,000. Woodline Partners LP owned approximately 0.09% of TriNet Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Avion Wealth grew its stake in 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 in the last quarter. Summit Investment Advisors Inc. boosted its stake in TriNet Group by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,344 shares of the business services provider's stock valued at $304,000 after acquiring an additional 149 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in TriNet Group by 2.6% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,731 shares of the business services provider's stock valued at $702,000 after acquiring an additional 196 shares during the period. IFP Advisors Inc boosted its stake in TriNet Group by 45.5% in the fourth quarter. IFP Advisors Inc now owns 767 shares of the business services provider's stock valued at $71,000 after acquiring an additional 240 shares during the period. Finally, Mariner LLC boosted its stake in TriNet Group by 13.7% in the fourth quarter. Mariner LLC now owns 2,763 shares of the business services provider's stock valued at $251,000 after acquiring an additional 333 shares during the period. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TriNet Group

In related news, SVP Sidney A. Majalya sold 500 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now owns 23,033 shares of the company's stock, valued at $1,914,963.62. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $82.04, for a total value of $117,891.48. Following the sale, the chief technology officer now directly owns 32,932 shares in the company, valued at approximately $2,701,741.28. The trade was a 4.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,120 shares of company stock worth $175,291 in the last 90 days. Corporate insiders own 38.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TNET. JPMorgan Chase & Co. lifted their target price on TriNet Group from $75.00 to $76.00 and gave the company an "underweight" rating in a research note on Monday, April 28th. TD Cowen downgraded TriNet Group from a "buy" rating to a "hold" rating and decreased their target price for the company from $104.00 to $74.00 in a research note on Tuesday, February 18th. Finally, Needham & Company LLC restated a "hold" rating on shares of TriNet Group in a research note on Thursday, March 13th.

TriNet Group Stock Performance

Shares of NYSE TNET traded up $0.19 during midday trading on Friday, hitting $82.33. 26,220 shares of the company's stock were exchanged, compared to its average volume of 380,465. TriNet Group, Inc. has a twelve month low of $65.43 and a twelve month high of $116.26. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $3.98 billion, a P/E ratio of 24.11 and a beta of 0.91. The stock's 50 day moving average price is $79.55 and its 200-day moving average price is $84.44.

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

TriNet Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Tuesday, April 1st were issued a $0.275 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $1.10 annualized dividend and a yield of 1.34%. This is an increase from TriNet Group's previous quarterly dividend of $0.25. TriNet Group's dividend payout ratio is presently 32.84%.

TriNet Group Company 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.