Quest Partners LLC Purchases 6,595 Shares of TriNet Group, Inc. (NYSE:TNET)

Quest Partners LLC increased its position in TriNet Group, Inc. (NYSE:TNET - Free Report) by 443.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,083 shares of the business services provider's stock after buying an additional 6,595 shares during the quarter. Quest Partners LLC's holdings in TriNet Group were worth $784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. KBC Group NV lifted its position in TriNet Group by 26.5% in the 3rd 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 last quarter. GHE LLC lifted its position in TriNet Group by 7.1% in the third quarter. GHE LLC now owns 28,474 shares of the business services provider's stock valued at $2,579,000 after purchasing an additional 1,880 shares during the last quarter. Chase Investment Counsel Corp lifted its position in TriNet Group by 59.5% in the third quarter. Chase Investment Counsel Corp now owns 13,400 shares of the business services provider's stock valued at $1,299,000 after purchasing an additional 5,000 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in TriNet Group by 11.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 19,624 shares of the business services provider's stock valued at $1,903,000 after purchasing an additional 1,988 shares during the last quarter. Finally, Summit Global Investments bought a new stake in TriNet Group in the third quarter valued at approximately $605,000. Institutional investors own 96.81% of the company's stock.

Insider Buying and Selling

In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value of $482,161.68. Following the sale, the chief financial officer now directly owns 82,409 shares of the company's stock, valued at approximately $8,484,830.64. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the completion of the sale, the director now directly owns 37,591 shares in the company, valued at approximately $3,241,471.93. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TNET has been the subject of several recent research reports. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $103.00 price objective on shares of TriNet Group in a research report on Tuesday, October 22nd. Needham & Company LLC downgraded TriNet Group from a "buy" rating to a "hold" rating and set a $140.00 price objective for the company. in a research report on Monday, October 28th. Finally, TD Cowen upped their target price on TriNet Group from $92.00 to $104.00 and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, TriNet Group presently has a consensus rating of "Hold" and a consensus price target of $117.00.

TriNet Group Trading Up 0.8 %

Shares of TriNet Group stock traded up $0.71 during midday trading on Friday, reaching $93.02. 321,831 shares of the company's stock traded hands, compared to its average volume of 301,898. The company has a debt-to-equity ratio of 7.70, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $4.61 billion, a PE ratio of 17.79 and a beta of 1.20. The stock has a 50 day moving average of $93.51 and a 200-day moving average of $98.90. TriNet Group, Inc. has a 12 month low of $74.32 and a 12 month high of $134.67.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.08%. TriNet Group's payout ratio is 19.27%.

About TriNet Group

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.