Cibc World Markets Corp Purchases Shares of 2,990 TriNet Group, Inc. (NYSE:TNET)

Cibc World Markets Corp acquired a new stake in shares of TriNet Group, Inc. (NYSE:TNET) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,990 shares of the business services provider’s stock, valued at approximately $271,000.

Several other hedge funds have also recently bought and sold shares of the stock. Wealthfront Advisers LLC acquired a new stake in shares of TriNet Group during the fourth quarter worth $456,581,000. Wellington Management Group LLP increased its holdings in TriNet Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock worth $128,169,000 after purchasing an additional 184,186 shares in the last quarter. Simcoe Capital Management LLC bought a new position in shares of TriNet Group during the third quarter worth about $16,966,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of TriNet Group by 41.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 550,404 shares of the business services provider’s stock valued at $53,373,000 after purchasing an additional 162,578 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in TriNet Group by 82.7% during the 4th quarter. Bank of New York Mellon Corp now owns 222,458 shares of the business services provider’s stock worth $20,193,000 after buying an additional 100,728 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TNET shares. Needham & Company LLC reissued a “hold” rating on shares of TriNet Group in a report on Thursday, March 13th. TD Cowen cut shares of TriNet Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $104.00 to $74.00 in a report on Tuesday, February 18th.

TriNet Group Stock Performance

Shares of TriNet Group stock opened at $78.51 on Wednesday. The company has a 50 day moving average of $82.17 and a 200-day moving average of $89.11. The company has a market cap of $3.89 billion, a PE ratio of 22.96 and a beta of 1.26. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. TriNet Group, Inc. has a 1-year low of $65.43 and a 1-year high of $134.67.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The company had revenue of $252.00 million for the quarter, compared to analyst estimates of $225.72 million. As a group, equities research analysts forecast that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.275 per share. The ex-dividend date is Tuesday, April 1st. This is a positive change from TriNet Group’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 1.40%. TriNet Group’s payout ratio is 32.16%.

Insider Buying and Selling

In other TriNet Group news, Director Paul Edward Chamberlain sold 600 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $41,616.00. Following the completion of the transaction, the director now directly owns 36,991 shares in the company, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffery Jon Hayward sold 1,364 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total value of $94,607.04. Following the sale, the chief technology officer now owns 19,867 shares in the company, valued at approximately $1,377,975.12. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,748 shares of company stock worth $833,436 in the last three months. 37.10% of the stock is owned by corporate insiders.

TriNet Group Profile

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size 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.