PEAK6 Investments L.P. lifted its stake in TriNet Group Inc (NYSE:TNET) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,176 shares of the business services provider’s stock after purchasing an additional 8,149 shares during the period. PEAK6 Investments L.P.’s holdings in TriNet Group were worth $1,382,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. American Century Companies Inc. bought a new position in shares of TriNet Group in the 3rd quarter worth about $3,573,000. Prudential Financial Inc. increased its stake in shares of TriNet Group by 10.6% in the 3rd quarter. Prudential Financial Inc. now owns 27,162 shares of the business services provider’s stock worth $914,000 after acquiring an additional 2,610 shares in the last quarter. Sei Investments Co. increased its stake in shares of TriNet Group by 112.0% in the 3rd quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock worth $266,000 after acquiring an additional 4,181 shares in the last quarter. New York State Common Retirement Fund increased its stake in TriNet Group by 4.0% during the 3rd quarter. New York State Common Retirement Fund now owns 70,987 shares of the business services provider’s stock valued at $2,387,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in TriNet Group by 8.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 213,960 shares of the business services provider’s stock valued at $7,193,000 after purchasing an additional 16,135 shares in the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently commented on TNET shares. Zacks Investment Research upgraded shares of TriNet Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Stifel Nicolaus lifted their price target on shares of TriNet Group to $54.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $41.40.
TriNet Group Inc (NYSE:TNET) opened at $46.75 on Wednesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.13 and a current ratio of 1.13. TriNet Group Inc has a 1 year low of $27.27 and a 1 year high of $49.00. The firm has a market cap of $3,296.10, a price-to-earnings ratio of 27.68 and a beta of 2.54.
TriNet Group announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 27th that authorizes the company to buyback $120.00 million in shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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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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