Park West Asset Management LLC Makes New $19.88 Million Investment in TriNet Group, Inc. (NYSE:TNET)

Park West Asset Management LLC purchased a new stake in shares of TriNet Group, Inc. (NYSE:TNET - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 219,000 shares of the business services provider's stock, valued at approximately $19,879,000. TriNet Group makes up 1.6% of Park West Asset Management LLC's investment portfolio, making the stock its 26th biggest holding. Park West Asset Management LLC owned about 0.44% of TriNet Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Northern Trust Corp lifted its holdings in shares of TriNet Group by 8.6% during the fourth quarter. Northern Trust Corp now owns 325,259 shares of the business services provider's stock worth $29,524,000 after purchasing an additional 25,631 shares during the period. Price T Rowe Associates Inc. MD raised its position in TriNet Group by 0.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 234,462 shares of the business services provider's stock worth $21,283,000 after buying an additional 1,675 shares during the last quarter. Hsbc Holdings PLC lifted its stake in TriNet Group by 28.0% during the 4th quarter. Hsbc Holdings PLC now owns 64,634 shares of the business services provider's stock valued at $5,876,000 after acquiring an additional 14,121 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of TriNet Group by 7.3% in the 4th quarter. MetLife Investment Management LLC now owns 19,319 shares of the business services provider's stock valued at $1,754,000 after acquiring an additional 1,321 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of TriNet Group by 98.2% in the fourth quarter. Capital Research Global Investors now owns 2,822,839 shares of the business services provider's stock worth $256,229,000 after acquiring an additional 1,398,573 shares during the period. Hedge funds and other institutional investors own 96.81% of the company's stock.

Insider Activity

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,364 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $94,607.04. Following the completion of the transaction, the chief technology officer now owns 19,867 shares of the company's stock, valued at $1,377,975.12. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $41,616.00. Following the completion of the sale, the director now directly owns 36,991 shares in the company, valued at $2,565,695.76. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 38.10% of the company's stock.

TriNet Group Stock Performance

NYSE TNET traded up $1.60 during mid-day trading on Friday, reaching $80.37. 374,048 shares of the stock were exchanged, compared to its average volume of 382,728. The company has a market capitalization of $3.89 billion, a P/E ratio of 23.50 and a beta of 1.06. 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 business's 50 day moving average is $76.64 and its 200-day moving average is $85.22. TriNet Group, Inc. has a 1 year low of $65.43 and a 1 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 (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.32. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $319.36 million. During the same period in the prior year, the company posted $2.18 EPS. On average, equities research analysts forecast that TriNet Group, Inc. will post 3.04 EPS for the current fiscal year.

TriNet Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were given a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This is a boost from TriNet Group's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.37%. TriNet Group's payout ratio is 32.84%.

Analyst Upgrades and Downgrades

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

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.