TriNet Group, Inc. (NYSE:TNET) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in TriNet Group, Inc. (NYSE:TNETGet Rating) by 881.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 22,613 shares of the business services provider’s stock after purchasing an additional 20,310 shares during the quarter. Mackenzie Financial Corp’s holdings in TriNet Group were worth $1,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of TNET. Wellington Management Group LLP raised its stake in shares of 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 last quarter. Hawk Ridge Capital Management LP raised its stake in shares of 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 last quarter. Francisco Partners Management LP purchased a new position in TriNet Group during the first quarter valued at approximately $14,953,000. Picton Mahoney Asset Management purchased a new position in TriNet Group during the first quarter valued at approximately $8,873,000. Finally, Twin Tree Management LP purchased a new position in TriNet Group during the first quarter valued at approximately $6,239,000. 92.09% of the stock is currently owned by hedge funds and other institutional investors.

TriNet Group Stock Up 0.1 %

TriNet Group stock opened at $70.01 on Wednesday. The stock has a market capitalization of $4.36 billion, a PE ratio of 12.05 and a beta of 1.14. TriNet Group, Inc. has a 12 month low of $60.60 and a 12 month high of $107.90. The business has a 50 day simple moving average of $70.91 and a 200-day simple moving average of $77.05. 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 (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 business 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%. On average, analysts anticipate that TriNet Group, Inc. will post 5.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TNET has been the subject of several recent research reports. StockNews.com initiated coverage on TriNet Group in a research report on Wednesday, October 12th. They set a “buy” rating for the company. JPMorgan Chase & Co. cut TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $89.00 to $96.00 in a research report on Tuesday, August 16th. Cowen reduced their price target on TriNet Group from $75.00 to $70.00 in a research report on Wednesday, October 26th. Cowen reduced their price target on TriNet Group from $75.00 to $70.00 in a research report on Wednesday, October 26th. Finally, Credit Suisse Group reduced their price target on TriNet Group from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, TriNet Group has a consensus rating of “Hold” and an average price target of $80.25.

Insider Activity

In other news, CEO Burton M. Goldfield sold 6,250 shares of TriNet Group stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $64.78, for a total value of $404,875.00. Following the sale, the chief executive officer now directly owns 210,268 shares of the company’s stock, valued at $13,621,161.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 12,750 shares of company stock worth $873,768 over the last three months. 40.60% of the stock is currently owned by corporate insiders.

TriNet Group Company Profile

(Get Rating)

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.

Further Reading

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

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