Heron Bay Capital Management Buys New Shares in TriNet Group, Inc. (NYSE:TNET)

Heron Bay Capital Management bought a new position in TriNet Group, Inc. (NYSE:TNET - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 47,049 shares of the business services provider's stock, valued at approximately $4,271,000. Heron Bay Capital Management owned about 0.09% of TriNet Group at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC purchased a new position in TriNet Group during the 4th quarter worth $456,581,000. Massachusetts Financial Services Co. MA lifted its position in shares of TriNet Group by 32.2% during the third 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 in the last quarter. American Century Companies Inc. boosted its holdings in TriNet Group by 1,131.0% during the fourth quarter. American Century Companies Inc. now owns 302,947 shares of the business services provider's stock worth $27,498,000 after purchasing an additional 278,338 shares during the last quarter. Wellington Management Group LLP grew its position in TriNet Group by 16.2% in 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. Finally, Simcoe Capital Management LLC purchased a new stake in TriNet Group in the 3rd quarter valued at about $16,966,000. Institutional investors own 96.81% of the company's stock.

Insider Buying and Selling at TriNet Group

In other news, Director Paul Edward Chamberlain sold 600 shares of the company's 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 in the company, valued at $2,565,695.76. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeffery Jon Hayward sold 7,784 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $89.57, for a total transaction of $697,212.88. Following the sale, the chief technology officer now directly owns 21,769 shares in the company, valued at $1,949,849.33. This trade represents a 26.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,748 shares of company stock valued at $833,436 over the last three months. 37.10% of the stock is currently owned by insiders.

Remove Ads

Analyst Upgrades and Downgrades

TNET has been the topic of a number of research analyst reports. TD Cowen downgraded TriNet Group from a "buy" rating to a "hold" rating and cut their target price for the stock from $104.00 to $74.00 in a research note on Tuesday, February 18th. Needham & Company LLC reissued a "hold" rating on shares of TriNet Group in a research report on Thursday, March 13th.

TriNet Group Stock Performance

Shares of TriNet Group stock traded up $1.75 on Thursday, reaching $80.85. 289,478 shares of the company traded hands, compared to its average volume of 342,251. 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 firm has a market capitalization of $4.00 billion, a PE ratio of 23.64 and a beta of 1.26. The company has a 50 day moving average of $81.67 and a 200 day moving average of $88.98. TriNet Group, Inc. has a 52 week low of $65.43 and a 52 week high of $134.67.

TriNet Group (NYSE:TNET - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The business 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%. Equities analysts forecast that TriNet Group, Inc. will post 3.04 earnings per share for the current year.

TriNet Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from TriNet Group's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.36%. TriNet Group's dividend payout ratio is 32.16%.

TriNet Group Company 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.