Cookson Peirce & Co. Inc. Makes New Investment in TriNet Group, Inc. (NYSE:TNET)

Cookson Peirce & Co. Inc. acquired a new position in TriNet Group, Inc. (NYSE:TNET) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 65,389 shares of the business services provider’s stock, valued at approximately $7,777,000. Cookson Peirce & Co. Inc. owned 0.13% of TriNet Group at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TNET. Norges Bank acquired a new position in shares of TriNet Group in the 4th quarter worth approximately $34,685,000. Wellington Management Group LLP raised its holdings in shares of TriNet Group by 11.4% in the 1st quarter. Wellington Management Group LLP now owns 4,190,526 shares of the business services provider’s stock worth $412,181,000 after buying an additional 430,430 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in TriNet Group by 84.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 807,212 shares of the business services provider’s stock valued at $94,024,000 after purchasing an additional 369,144 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in TriNet Group by 73.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 249,642 shares of the business services provider’s stock valued at $23,709,000 after purchasing an additional 105,591 shares in the last quarter. Finally, Boston Partners acquired a new stake in TriNet Group during the 3rd quarter valued at $11,186,000. 96.81% of the stock is owned by institutional investors and hedge funds.

TriNet Group Stock Down 0.0 %

Shares of NYSE:TNET traded down $0.04 during midday trading on Tuesday, reaching $126.69. The company had a trading volume of 47,954 shares, compared to its average volume of 224,384. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 12.62. The business’s 50 day moving average price is $126.10 and its 200 day moving average price is $118.85. The stock has a market cap of $6.41 billion, a PE ratio of 19.52 and a beta of 1.09. TriNet Group, Inc. has a 1-year low of $79.00 and a 1-year high of $134.67.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.46. The firm had revenue of $326.00 million for the quarter, compared to the consensus estimate of $300.36 million. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. Research analysts forecast that TriNet Group, Inc. will post 5.79 EPS for the current fiscal year.

TriNet Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, March 28th. TriNet Group’s dividend payout ratio is presently 15.41%.

Insider Transactions at TriNet Group

In other news, SVP Alexander G. Warren sold 2,385 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total transaction of $293,521.95. Following the completion of the sale, the senior vice president now owns 18,365 shares in the company, valued at $2,260,180.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Alexander G. Warren sold 2,385 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total value of $293,521.95. Following the completion of the sale, the senior vice president now directly owns 18,365 shares in the company, valued at $2,260,180.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Wayne B. Lowell sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total value of $1,222,200.00. Following the completion of the sale, the director now owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock worth $4,161,834 over the last quarter. Company insiders own 40.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TNET shares. TD Cowen raised their price target on TriNet Group from $129.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, March 4th. StockNews.com raised TriNet Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Stifel Nicolaus lifted their target price on TriNet Group from $117.00 to $121.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of TriNet Group in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.17.

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.