Lazard Asset Management LLC Raises Stock Holdings in TriNet Group, Inc. (NYSE:TNET)

Lazard Asset Management LLC increased its position in TriNet Group, Inc. (NYSE:TNETGet Rating) by 246.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,661 shares of the business services provider’s stock after purchasing an additional 1,182 shares during the period. Lazard Asset Management LLC’s holdings in TriNet Group were worth $128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TNET. Wellington Management Group LLP grew its stake in TriNet Group by 11.4% in the first quarter. Wellington Management Group LLP now owns 4,190,526 shares of the business services provider’s stock worth $412,181,000 after purchasing an additional 430,430 shares during the period. Hawk Ridge Capital Management LP grew its stake in TriNet Group by 372.0% in the first quarter. Hawk Ridge Capital Management LP now owns 431,005 shares of the business services provider’s stock worth $42,394,000 after purchasing an additional 339,692 shares during the period. Francisco Partners Management LP purchased a new stake in TriNet Group in the first quarter worth $14,953,000. Picton Mahoney Asset Management bought a new stake in TriNet Group in the first quarter worth $8,873,000. Finally, Twin Tree Management LP bought a new stake in TriNet Group in the first quarter worth $6,239,000. 92.09% of the stock is owned by hedge funds and other institutional investors.

TriNet Group Trading Up 0.8 %

Shares of NYSE:TNET opened at $69.94 on Tuesday. The company has a market cap of $4.35 billion, a P/E ratio of 12.04 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 1.29. TriNet Group, Inc. has a 1 year low of $60.60 and a 1 year high of $107.90. The stock’s fifty day moving average price is $71.06 and its 200-day moving average price is $77.15.

TriNet Group (NYSE:TNETGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The business services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.63. The company had revenue of $369.00 million during the quarter, compared to analysts’ expectations of $302.92 million. TriNet Group had a return on equity of 51.00% and a net margin of 7.71%. Sell-side analysts expect that TriNet Group, Inc. will post 5.52 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. StockNews.com assumed coverage on TriNet Group in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Credit Suisse Group dropped their target price on TriNet Group from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, October 26th. JPMorgan Chase & Co. downgraded TriNet Group from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $89.00 to $96.00 in a report on Tuesday, August 16th. Cowen dropped their target price on TriNet Group from $75.00 to $70.00 in a report on Wednesday, October 26th. Finally, Cowen lowered their price target on TriNet Group from $75.00 to $70.00 in a report on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.25.

Insider Activity at TriNet Group

In related news, CEO Burton M. Goldfield sold 6,250 shares of the company’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $72.34, for a total transaction of $452,125.00. Following the completion of the sale, the chief executive officer now owns 215,482 shares in the company, valued at $15,587,967.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 19,000 shares of company stock worth $1,418,393. 40.60% of the stock is owned by insiders.

TriNet Group Profile

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TriNet Group, Inc provides human resources (HR) solutions, payroll services, employee benefits, and employment risk mitigation services for small and midsize 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.

See Also

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

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