TriNet Group Inc (NYSE:TNET) Short Interest Up 40.3% in August

TriNet Group Inc (NYSE:TNET) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,123,600 shares, an increase of 40.3% from the July 31st total of 801,100 shares. Based on an average trading volume of 301,600 shares, the days-to-cover ratio is presently 3.7 days. Approximately 2.6% of the company’s stock are short sold.

In other news, CEO Burton M. Goldfield sold 6,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $67.86, for a total transaction of $407,160.00. Following the transaction, the chief executive officer now owns 319,973 shares in the company, valued at $21,713,367.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Edward Griese sold 1,396 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $69.03, for a total transaction of $96,365.88. Following the transaction, the vice president now owns 62,420 shares in the company, valued at approximately $4,308,852.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,990 shares of company stock worth $9,844,243. Corporate insiders own 37.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of TNET. BlackRock Inc. boosted its position in TriNet Group by 20.1% in the second quarter. BlackRock Inc. now owns 3,712,387 shares of the business services provider’s stock valued at $251,699,000 after buying an additional 621,559 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in TriNet Group in the second quarter valued at approximately $33,359,000. Man Group plc boosted its position in TriNet Group by 1,141.4% in the second quarter. Man Group plc now owns 207,109 shares of the business services provider’s stock valued at $14,041,000 after buying an additional 190,426 shares during the last quarter. Marshall Wace North America L.P. boosted its position in TriNet Group by 12,851.1% in the first quarter. Marshall Wace North America L.P. now owns 162,925 shares of the business services provider’s stock valued at $9,733,000 after buying an additional 161,667 shares during the last quarter. Finally, North Peak Capital Management LLC purchased a new stake in TriNet Group in the first quarter valued at approximately $8,864,000. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Several research firms have recently issued reports on TNET. Berenberg Bank began coverage on shares of TriNet Group in a report on Friday. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Thursday, August 1st. Finally, ValuEngine downgraded shares of TriNet Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $60.70.

NYSE TNET traded up $2.70 during trading hours on Friday, reaching $64.83. The stock had a trading volume of 399,463 shares, compared to its average volume of 332,375. The stock has a fifty day moving average of $68.83 and a 200 day moving average of $65.24. The stock has a market cap of $4.36 billion, a P/E ratio of 25.23 and a beta of 1.89. TriNet Group has a 52-week low of $38.74 and a 52-week high of $76.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.19 and a current ratio of 1.19.

TriNet Group (NYSE:TNET) last issued its earnings results on Thursday, July 25th. The business services provider reported $0.70 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.70. The firm had revenue of $231.00 million for the quarter, compared to analyst estimates of $221.25 million. TriNet Group had a return on equity of 46.35% and a net margin of 5.16%. TriNet Group’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. On average, equities research analysts forecast that TriNet Group will post 2.98 EPS for the current year.

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.

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