Allspring Global Investments Holdings LLC Reduces Holdings in TriNet Group, Inc. (NYSE:TNET)

Allspring Global Investments Holdings LLC reduced its position in TriNet Group, Inc. (NYSE:TNET – Get Rating) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,967 shares of the business services provider’s stock after selling 178 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TriNet Group were worth $2,133,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TNET. Meritage Portfolio Management grew its position in shares of TriNet Group by 735.5% during the third quarter. Meritage Portfolio Management now owns 61,510 shares of the business services provider’s stock worth $4,381,000 after buying an additional 54,148 shares in the last quarter. Artemis Investment Management LLP acquired a new position in TriNet Group during the 3rd quarter worth $5,381,000. Raymond James & Associates increased its position in shares of TriNet Group by 5.2% in the 3rd quarter. Raymond James & Associates now owns 9,078 shares of the business services provider’s stock worth $647,000 after purchasing an additional 450 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of TriNet Group by 1.7% in the 3rd quarter. Eqis Capital Management Inc. now owns 9,166 shares of the business services provider’s stock valued at $653,000 after purchasing an additional 149 shares in the last quarter. Finally, JLB & Associates Inc. lifted its position in shares of TriNet Group by 5.1% during the third quarter. JLB & Associates Inc. now owns 37,243 shares of the business services provider’s stock worth $2,652,000 after purchasing an additional 1,823 shares during the last quarter. 91.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com started coverage on TriNet Group in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Cowen dropped their price target on TriNet Group from $70.00 to $67.00 in a research report on Wednesday, January 11th. Cowen reduced their price objective on TriNet Group from $75.00 to $70.00 in a research note on Wednesday, October 26th. Finally, Credit Suisse Group lowered their target price on shares of TriNet Group from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TriNet Group has a consensus rating of “Hold” and an average target price of $79.50.

Insider Buying and Selling

In other TriNet Group news, CEO Burton M. Goldfield sold 6,250 shares of the company’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $71.12, for a total value of $444,500.00. Following the completion of the transaction, the chief executive officer now owns 205,137 shares in the company, valued at approximately $14,589,343.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TriNet Group news, CEO Burton M. Goldfield sold 6,250 shares of the business’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $71.12, for a total transaction of $444,500.00. Following the completion of the transaction, the chief executive officer now owns 205,137 shares in the company, valued at approximately $14,589,343.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Alexander G. Warren sold 3,280 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $70.11, for a total value of $229,960.80. Following the transaction, the senior vice president now directly owns 37,862 shares in the company, valued at $2,654,504.82. The disclosure for this sale can be found here. Insiders have sold a total of 22,405 shares of company stock valued at $1,511,558 in the last quarter. Company insiders own 40.60% of the company’s stock.

TriNet Group Stock Up 0.1 %

Shares of TriNet Group stock opened at $73.73 on Friday. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 12.69 and a beta of 1.12. TriNet Group, Inc. has a twelve month low of $60.60 and a twelve month high of $103.36. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $69.46 and its 200-day simple moving average is $74.89.

TriNet Group (NYSE:TNET – Get Rating) last issued its earnings results on Tuesday, October 25th. The business services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.63. TriNet Group had a return on equity of 51.00% and a net margin of 7.71%. The firm had revenue of $369.00 million for the quarter, compared to analyst estimates of $302.92 million. Equities research analysts forecast that TriNet Group, Inc. will post 5.52 earnings per share for the current year.

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.