Citadel Advisors LLC purchased a new position in shares of TriNet Group, Inc. (NYSE:TNET) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 26,670 shares of the business services provider’s stock, valued at approximately $873,000.

Other hedge funds also recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of TriNet Group during the 1st quarter worth approximately $105,000. Envestnet Asset Management Inc. increased its stake in shares of TriNet Group by 13.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock worth $119,000 after purchasing an additional 483 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of TriNet Group by 18.6% during the 1st quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock worth $133,000 after purchasing an additional 723 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of TriNet Group during the 1st quarter worth approximately $153,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of TriNet Group by 596.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock worth $187,000 after purchasing an additional 4,886 shares during the last quarter. Institutional investors own 54.58% of the company’s stock.

TriNet Group, Inc. (NYSE TNET) opened at 34.93 on Friday. The company has a 50-day moving average of $34.80 and a 200-day moving average of $32.55. TriNet Group, Inc. has a 1-year low of $17.78 and a 1-year high of $41.58. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 23.47 and a beta of 2.89.

TriNet Group (NYSE:TNET) last announced its earnings results on Monday, July 31st. The business services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.18. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The business had revenue of $201.01 million during the quarter, compared to analysts’ expectations of $168.27 million. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Analysts anticipate that TriNet Group, Inc. will post $1.49 earnings per share for the current fiscal year.

In other TriNet Group news, Director Martin Babinec sold 36,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total transaction of $1,212,530.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director H Raymond Bingham sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $39.53, for a total transaction of $197,650.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $197,650. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 392,979 shares of company stock valued at $14,272,889. 42.40% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/10/06/citadel-advisors-llc-purchases-new-position-in-trinet-group-inc-tnet.html.

Several brokerages have recently issued reports on TNET. BidaskClub lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. J P Morgan Chase & Co lowered shares of TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $33.00 to $36.00 in a research note on Thursday, August 17th. Zacks Investment Research lowered shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price objective (up from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Finally, Morgan Stanley lowered shares of TriNet Group from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $27.00 to $31.00 in a research note on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $37.40.

TriNet Group Profile

TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers’ compensation insurance and claims management, employment and benefit law compliance, and other services.

Want to see what other hedge funds are holding TNET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TriNet Group, Inc. (NYSE:TNET).

Institutional Ownership by Quarter for TriNet Group (NYSE:TNET)

Receive News & Stock Ratings for TriNet Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group Inc. and related stocks with our FREE daily email newsletter.