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
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
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.
- Get a free copy of the StockNews.com research report on TriNet Group (TNET)
- Exxon Mobil Stock: Within Striking Distance Of Buy Point
- High-Dividend-Yielding BHP Sees China Driving ’23 Growth
- Is Airbnb Setting Up To Rally 38%, As Analysts Are Forecasting?
- Does a Price Cut for Tesla Vehicles Mean the Same for TSLA Stock?
- Microsoft Layoffs Signal Layoffs for Other Tech Companies?
Receive News & Ratings for TriNet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group and related companies with MarketBeat.com's FREE daily email newsletter.