Farther Finance Advisors LLC Lowers Stake in TriNet Group, Inc. (NYSE:TNET)

Farther Finance Advisors LLC lowered its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 14.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,738 shares of the business services provider’s stock after selling 637 shares during the period. Farther Finance Advisors LLC’s holdings in TriNet Group were worth $339,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TNET. State of New Jersey Common Pension Fund D lifted its holdings in TriNet Group by 11.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 19,624 shares of the business services provider’s stock worth $1,903,000 after buying an additional 1,988 shares during the period. KBC Group NV lifted its holdings in TriNet Group by 26.5% during the third quarter. KBC Group NV now owns 950 shares of the business services provider’s stock worth $92,000 after buying an additional 199 shares during the period. Quest Partners LLC lifted its holdings in shares of TriNet Group by 443.2% during the 3rd quarter. Quest Partners LLC now owns 8,083 shares of the business services provider’s stock valued at $784,000 after purchasing an additional 6,595 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of TriNet Group during the 3rd quarter valued at $817,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of TriNet Group by 32.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock valued at $156,018,000 after purchasing an additional 391,720 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TNET shares. TD Cowen lowered TriNet Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $104.00 to $74.00 in a report on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of TriNet Group in a report on Thursday, March 13th.

TriNet Group Stock Performance

Shares of TNET stock opened at $77.91 on Tuesday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 22.78 and a beta of 1.26. The company has a debt-to-equity ratio of 13.16, a current ratio of 1.07 and a quick ratio of 1.07. The business has a fifty day moving average of $83.61 and a 200 day moving average of $89.98. 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 earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $252.00 million during the quarter, compared to analyst estimates of $225.72 million. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. As a group, research analysts expect that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

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 transaction of $41,616.00. Following the sale, the director now directly owns 36,991 shares of the company’s stock, valued at approximately $2,565,695.76. This trade represents a 1.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffery Jon Hayward sold 1,364 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 $94,607.04. Following the sale, the chief technology officer now directly owns 19,867 shares in the company, valued at $1,377,975.12. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,748 shares of company stock worth $833,436 in the last 90 days. Insiders own 37.10% of the company’s stock.

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.