Cramer Rosenthal Mcglynn LLC lowered its stake in shares of TriNet Group Inc (NYSE:TNET) by 25.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 719,730 shares of the business services provider’s stock after selling 246,200 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned 1.04% of TriNet Group worth $31,913,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. purchased a new stake in shares of TriNet Group during the 3rd quarter valued at $3,573,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TriNet Group during the 3rd quarter valued at $827,000. Atairos Group Inc. purchased a new stake in shares of TriNet Group during the 4th quarter valued at $864,822,000. Russell Investments Group Ltd. raised its position in shares of TriNet Group by 644.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 265,053 shares of the business services provider’s stock valued at $8,911,000 after buying an additional 229,466 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of TriNet Group by 67.7% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 123,900 shares of the business services provider’s stock valued at $4,164,000 after buying an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.
TNET has been the topic of several research reports. Stifel Nicolaus raised their price objective on shares of TriNet Group to $54.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Zacks Investment Research cut shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.40.
TriNet Group Inc (TNET) opened at $47.05 on Tuesday. The company has a market cap of $3,270.00, a price-to-earnings ratio of 18.90 and a beta of 2.54. TriNet Group Inc has a 52-week low of $27.27 and a 52-week high of $49.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.13 and a quick ratio of 1.13.
TriNet Group declared that its Board of Directors has approved a share repurchase program on Tuesday, February 27th that allows the company to repurchase $120.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
About TriNet Group
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers’ compensation insurance and claims management, employment and benefit law compliance, and other services.
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