TriNet Group Inc (TNET) Shares Bought by Golden Gate Private Equity Inc.
Golden Gate Private Equity Inc. boosted its holdings in TriNet Group Inc (NYSE:TNET) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 160,250 shares of the business services provider’s stock after purchasing an additional 3,000 shares during the quarter. TriNet Group accounts for 6.0% of Golden Gate Private Equity Inc.’s investment portfolio, making the stock its 2nd biggest holding. Golden Gate Private Equity Inc.’s holdings in TriNet Group were worth $7,105,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Suntrust Banks Inc. bought a new position in shares of TriNet Group during the 4th quarter worth approximately $218,000. Intrust Bank NA bought a new position in shares of TriNet Group during the 4th quarter worth approximately $231,000. Amalgamated Bank bought a new position in shares of TriNet Group during the 4th quarter worth approximately $250,000. Sei Investments Co. lifted its position in shares of TriNet Group by 112.0% during the 3rd quarter. Sei Investments Co. now owns 7,913 shares of the business services provider’s stock worth $266,000 after buying an additional 4,181 shares in the last quarter. Finally, Capital Fund Management S.A. lifted its position in shares of TriNet Group by 25.6% during the 4th quarter. Capital Fund Management S.A. now owns 10,800 shares of the business services provider’s stock worth $479,000 after buying an additional 2,200 shares in the last quarter. 85.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Michael P. Murphy sold 837 shares of TriNet Group stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $40.86, for a total value of $34,199.82. Following the sale, the insider now owns 19,444 shares of the company’s stock, valued at approximately $794,481.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne B. Lowell sold 14,663 shares of TriNet Group stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $45.67, for a total transaction of $669,659.21. The disclosure for this sale can be found here. Insiders sold a total of 198,685 shares of company stock worth $8,578,080 in the last ninety days. 41.80% of the stock is currently owned by insiders.
Shares of TriNet Group Inc (TNET) opened at $46.85 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.86. The company has a market cap of $3,282.09, a P/E ratio of 27.56 and a beta of 2.54. TriNet Group Inc has a 1-year low of $27.27 and a 1-year high of $48.29.
TriNet Group declared that its board has authorized a share repurchase plan on Tuesday, February 27th that allows the company to repurchase $120.00 million in shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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TriNet Group Company Profile
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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