North Peak Capital Management LLC Raises Stake in TriNet Group Inc (NYSE:TNET)
North Peak Capital Management LLC lifted its holdings in TriNet Group Inc (NYSE:TNET) by 34.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 200,000 shares of the business services provider’s stock after purchasing an additional 51,630 shares during the period. TriNet Group comprises approximately 7.6% of North Peak Capital Management LLC’s holdings, making the stock its 8th biggest position. North Peak Capital Management LLC’s holdings in TriNet Group were worth $13,560,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hilton Capital Management LLC purchased a new stake in TriNet Group during the first quarter valued at approximately $79,000. NumerixS Investment Technologies Inc bought a new stake in shares of TriNet Group during the 1st quarter valued at $130,000. Capital Fund Management S.A. bought a new stake in shares of TriNet Group during the 2nd quarter valued at $203,000. ARP Americas LP purchased a new stake in shares of TriNet Group in the 1st quarter worth $209,000. Finally, Advisor Group Inc. increased its stake in shares of TriNet Group by 5.2% in the 2nd quarter. Advisor Group Inc. now owns 3,158 shares of the business services provider’s stock worth $215,000 after purchasing an additional 155 shares in the last quarter. 86.51% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on TNET. Zacks Investment Research raised TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Thursday, August 1st. ValuEngine lowered TriNet Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $60.70.
TriNet Group (NYSE:TNET) last released its earnings results on Thursday, July 25th. The business services provider reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. TriNet Group had a net margin of 5.16% and a return on equity of 46.35%. The company had revenue of $231.00 million for the quarter, compared to analysts’ expectations of $221.25 million. During the same quarter last year, the business earned $0.87 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, research analysts predict that TriNet Group Inc will post 2.98 earnings per share for the current fiscal year.
In other TriNet Group news, Director Martin Babinec sold 23,500 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $63.48, for a total value of $1,491,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director H Raymond Bingham sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $71.27, for a total value of $1,069,050.00. Following the sale, the director now directly owns 140,497 shares in the company, valued at $10,013,221.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,990 shares of company stock valued at $9,844,243. Company insiders own 37.00% of the company’s stock.
TriNet Group Company Profile
TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. 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 benefit law compliance; and other services.
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