North Peak Capital Management LLC Has $13.56 Million Holdings in TriNet Group Inc (NYSE:TNET)

North Peak Capital Management LLC boosted its position in shares of TriNet Group Inc (NYSE:TNET) by 34.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 200,000 shares of the business services provider’s stock after buying an additional 51,630 shares during the quarter. TriNet Group makes up about 7.6% of North Peak Capital Management LLC’s holdings, making the stock its 8th biggest holding. North Peak Capital Management LLC owned about 0.29% of TriNet Group worth $13,560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp grew its position in shares of TriNet Group by 0.6% in the 2nd quarter. Northern Trust Corp now owns 560,103 shares of the business services provider’s stock worth $37,975,000 after buying an additional 3,192 shares during the last quarter. GAM Holding AG lifted its stake in TriNet Group by 7.4% in the second quarter. GAM Holding AG now owns 14,255 shares of the business services provider’s stock worth $966,000 after acquiring an additional 988 shares during the period. Renaissance Technologies LLC lifted its stake in TriNet Group by 17.3% in the second quarter. Renaissance Technologies LLC now owns 394,600 shares of the business services provider’s stock worth $26,754,000 after acquiring an additional 58,300 shares during the period. Bank of New York Mellon Corp lifted its stake in TriNet Group by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 233,720 shares of the business services provider’s stock worth $15,846,000 after acquiring an additional 4,628 shares during the period. Finally, Quantamental Technologies LLC boosted its holdings in TriNet Group by 130.6% in the second quarter. Quantamental Technologies LLC now owns 3,865 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 2,189 shares in the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

In related news, Director Martin Babinec sold 23,500 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $63.48, for a total transaction of $1,491,780.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Edward Griese sold 1,396 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $69.03, for a total transaction of $96,365.88. Following the sale, the vice president now directly owns 62,420 shares in the company, valued at approximately $4,308,852.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,990 shares of company stock worth $9,844,243. Company insiders own 37.00% of the company’s stock.

Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Thursday, August 1st. ValuEngine lowered shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $60.70.

Shares of NYSE TNET traded up $0.19 during mid-day trading on Wednesday, hitting $62.54. 17,646 shares of the stock traded hands, compared to its average volume of 298,695. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.19 and a current ratio of 1.19. TriNet Group Inc has a 52 week low of $38.74 and a 52 week high of $76.92. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 24.30 and a beta of 1.89. The stock has a fifty day moving average price of $69.14 and a 200-day moving average price of $65.22.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $231.00 million during the quarter, compared to the consensus estimate of $221.25 million. TriNet Group had a return on equity of 46.35% and a net margin of 5.16%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. As a group, sell-side analysts predict that TriNet Group Inc will post 2.98 EPS for the current fiscal year.

TriNet Group Profile

TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. 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 benefit law compliance; and other services.

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

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