TriNet Group, Inc. (NYSE:TNET) Sees Significant Drop in Short Interest

TriNet Group, Inc. (NYSE:TNET - Get Free Report) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,470,000 shares, a decrease of 17.9% from the February 13th total of 1,790,000 shares. Based on an average daily trading volume, of 412,700 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.1% of the shares of the company are short sold.

TriNet Group Price Performance

TriNet Group stock traded down $2.19 during mid-day trading on Friday, hitting $76.67. The stock had a trading volume of 1,876,089 shares, compared to its average volume of 338,850. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The firm's 50 day moving average is $82.68 and its 200 day moving average is $89.48. The firm has a market capitalization of $3.80 billion, a P/E ratio of 22.42 and a beta of 1.26. TriNet Group has a one year low of $65.43 and a one year high of $134.67.

TriNet Group (NYSE:TNET - Get Free Report) last released its earnings results on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. TriNet Group had a return on equity of 200.82% and a net margin of 3.46%. The firm had revenue of $252.00 million during the quarter, compared to analysts' expectations of $225.72 million. On average, sell-side analysts forecast that TriNet Group will post 3.04 earnings per share for the current fiscal year.

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TriNet Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.43%. This is a boost from TriNet Group's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, April 1st. TriNet Group's dividend payout ratio (DPR) is presently 29.24%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of TriNet Group in a report on Thursday, March 13th. TD Cowen downgraded TriNet Group from a "buy" rating to a "hold" rating and cut their price objective for the company from $104.00 to $74.00 in a research note on Tuesday, February 18th.

Insider Transactions at TriNet Group

In other news, CTO Jeffery Jon Hayward sold 1,364 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total value of $94,607.04. Following the transaction, the chief technology officer now owns 19,867 shares in the company, valued at $1,377,975.12. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Edward Chamberlain sold 600 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $41,616.00. Following the sale, the director now owns 36,991 shares of the company's stock, valued at $2,565,695.76. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,748 shares of company stock worth $833,436 in the last ninety days. Insiders own 37.10% of the company's stock.

Institutional Trading of TriNet Group

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in shares of TriNet Group by 11.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider's stock valued at $37,366,000 after acquiring an additional 39,351 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 during the last quarter. Simcoe Capital Management LLC purchased a new position in shares of TriNet Group in the 3rd quarter worth $16,966,000. Tidal Investments LLC increased its holdings in shares of TriNet Group by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 5,121 shares of the business services provider's stock worth $495,000 after buying an additional 263 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of TriNet Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider's stock valued at $128,169,000 after buying an additional 184,186 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company's stock.

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.