Comerica Bank Purchases Shares of 25,044 TriNet Group, Inc. (NYSE:TNET)

Comerica Bank acquired a new position in TriNet Group, Inc. (NYSE:TNETGet Rating) during the third quarter, Holdings Channel reports. The institutional investor acquired 25,044 shares of the business services provider’s stock, valued at approximately $1,861,000.

Several other large investors have also made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new stake in TriNet Group in the 3rd quarter valued at approximately $36,000. Captrust Financial Advisors boosted its position in shares of TriNet Group by 78.7% in the second quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 273 shares during the period. Parallel Advisors LLC grew its stake in shares of TriNet Group by 4,961.5% in the second quarter. Parallel Advisors LLC now owns 658 shares of the business services provider’s stock worth $51,000 after acquiring an additional 645 shares during the last quarter. Banque Cantonale Vaudoise increased its position in TriNet Group by 20.5% during the second quarter. Banque Cantonale Vaudoise now owns 742 shares of the business services provider’s stock worth $58,000 after acquiring an additional 126 shares during the period. Finally, Van ECK Associates Corp raised its stake in TriNet Group by 29.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,382 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 311 shares during the last quarter. Institutional investors and hedge funds own 91.65% of the company’s stock.

Wall Street Analysts Forecast Growth

TNET has been the topic of several research reports. StockNews.com assumed coverage on shares of TriNet Group in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Credit Suisse Group lowered their price target on TriNet Group from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 26th. Cowen reduced their price objective on TriNet Group from $75.00 to $70.00 in a research report on Wednesday, October 26th. Finally, Cowen lowered their price objective on TriNet Group from $70.00 to $67.00 in a research report on Wednesday, January 11th. One research 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’s stock. According to data from MarketBeat.com, TriNet Group currently has an average rating of “Hold” and an average target price of $79.50.

Insider Transactions at TriNet Group

In other news, SVP Alexander G. Warren sold 3,280 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $70.11, for a total transaction of $229,960.80. Following the completion of the sale, the senior vice president now owns 37,862 shares of the company’s stock, valued at $2,654,504.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Burton M. Goldfield sold 6,250 shares of the stock in a transaction dated Friday, November 25th. The shares were 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 directly owns 205,137 shares in the company, valued at approximately $14,589,343.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Alexander G. Warren sold 3,280 shares of the 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 completion of the sale, the senior vice president now owns 37,862 shares in the company, valued at approximately $2,654,504.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,405 shares of company stock valued at $1,511,558. 40.60% of the stock is owned by insiders.

TriNet Group Stock Performance

NYSE:TNET opened at $76.10 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $69.62 and a 200 day moving average price of $74.88. The firm has a market capitalization of $4.74 billion, a PE ratio of 13.10 and a beta of 1.12. TriNet Group, Inc. has a 12-month low of $60.60 and a 12-month high of $103.36.

TriNet Group (NYSE:TNETGet Rating) last posted its earnings results on Tuesday, October 25th. The business services provider reported $1.44 EPS 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 business had revenue of $369.00 million during the quarter, compared to the consensus estimate of $302.92 million. Research analysts anticipate that TriNet Group, Inc. will post 5.52 earnings per share for the current fiscal year.

TriNet Group Company Profile

(Get Rating)

TriNet Group, Inc provides human resources solutions including industry solutions to small and mid sized businesses. Its services include payroll processing tax administration, employee benefits and a human resource technology platform with online and mobile tools and also employee onboarding and termination, compensation reporting, expense management, and benefits enrollment and administration.

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

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