Cantillon Capital Management LLC Cuts Stock Position in TriNet Group Inc (NYSE:TNET)

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Cantillon Capital Management LLC lessened its position in TriNet Group Inc (NYSE:TNET) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,167,719 shares of the business services provider’s stock after selling 74,734 shares during the quarter. TriNet Group makes up 2.9% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Cantillon Capital Management LLC owned approximately 5.95% of TriNet Group worth $282,571,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hilton Capital Management LLC purchased a new stake in shares of TriNet Group in the 1st quarter valued at $79,000. Advisory Services Network LLC increased its holdings in TriNet Group by 1,385.3% during the 4th quarter. Advisory Services Network LLC now owns 1,411 shares of the business services provider’s stock worth $59,000 after purchasing an additional 1,316 shares during the period. Quantamental Technologies LLC purchased a new stake in TriNet Group during the 1st quarter worth about $100,000. NumerixS Investment Technologies Inc purchased a new stake in TriNet Group during the 1st quarter worth about $130,000. Finally, ARP Americas LP purchased a new stake in TriNet Group during the 1st quarter worth about $209,000. Hedge funds and other institutional investors own 86.63% of the company’s stock.

Separately, Zacks Investment Research raised TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $60.70.

NYSE:TNET opened at $69.34 on Wednesday. The business’s 50-day simple moving average is $70.64. The firm has a market cap of $5.01 billion, a PE ratio of 26.98 and a beta of 1.89. TriNet Group Inc has a 1 year low of $38.74 and a 1 year high of $76.92. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.87.

TriNet Group (NYSE:TNET) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. The business had revenue of $231.00 million during the quarter, compared to analysts’ expectations of $221.25 million. TriNet Group had a return on equity of 46.35% and a net margin of 5.16%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. As a group, research analysts forecast that TriNet Group Inc will post 2.98 EPS for the current fiscal year.

In related news, VP Edward Griese sold 1,396 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $61.00, for a total value of $85,156.00. Following the completion of the sale, the vice president now directly owns 66,151 shares of the company’s stock, valued at approximately $4,035,211. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Burton M. Goldfield sold 23,486 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $60.99, for a total value of $1,432,411.14. Following the completion of the sale, the chief executive officer now directly owns 336,809 shares of the company’s stock, valued at $20,541,980.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,647 shares of company stock valued at $13,207,899. Insiders own 37.00% of the company’s stock.

TriNet Group Company Profile

TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. 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 benefit law compliance; and other services.

Further Reading: Gap Down Stocks

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Institutional Ownership by Quarter for TriNet Group (NYSE:TNET)

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