Sei Investments Co. trimmed its stake in TriNet Group, Inc. (NYSE:TNET) by 57.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,732 shares of the business services provider’s stock after selling 5,123 shares during the quarter. Sei Investments Co.’s holdings in TriNet Group were worth $122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of TriNet Group by 9.4% in the 1st quarter. Wellington Management Group LLP now owns 4,970,312 shares of the business services provider’s stock worth $143,643,000 after acquiring an additional 428,077 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TriNet Group by 11.0% in the 1st quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock worth $122,217,000 after acquiring an additional 418,005 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of TriNet Group by 3.8% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,583,160 shares of the business services provider’s stock worth $45,753,000 after acquiring an additional 57,985 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TriNet Group by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,762 shares of the business services provider’s stock worth $27,476,000 after acquiring an additional 44,115 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of TriNet Group by 3.4% in the 1st quarter. State Street Corp now owns 790,852 shares of the business services provider’s stock worth $22,856,000 after acquiring an additional 25,824 shares during the last quarter. Institutional investors and hedge funds own 54.58% of the company’s stock.

In related news, CEO Burton M. Goldfield sold 24,676 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $35.29, for a total value of $870,816.04. Following the completion of the sale, the chief executive officer now owns 30,707 shares in the company, valued at approximately $1,083,650.03. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martin Babinec sold 7,872 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $35.11, for a total transaction of $276,385.92. The disclosure for this sale can be found here. In the last three months, insiders sold 467,762 shares of company stock worth $16,662,060. 41.80% of the stock is currently owned by company insiders.

TNET has been the topic of a number of recent research reports. BidaskClub upgraded TriNet Group from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Stifel Nicolaus restated a “buy” rating and issued a $44.00 target price (up from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a report on Saturday, August 5th. J P Morgan Chase & Co downgraded TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Finally, Morgan Stanley downgraded TriNet Group from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $27.00 to $31.00 in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.40.

TriNet Group, Inc. (NYSE:TNET) opened at 33.86 on Thursday. TriNet Group, Inc. has a one year low of $17.78 and a one year high of $41.58. The stock has a market cap of $2.35 billion, a P/E ratio of 22.76 and a beta of 2.94. The stock’s 50 day moving average price is $36.30 and its 200-day moving average price is $31.95.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.18. The company had revenue of $201.01 million for the quarter, compared to the consensus estimate of $168.27 million. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 EPS. On average, analysts predict that TriNet Group, Inc. will post $1.49 earnings per share for the current year.

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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.

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

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