Short Interest in TriNet Group, Inc. (NYSE:TNET) Decreases By 17.9%

TriNet Group, Inc. (NYSE:TNET) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,470,000 shares, a decline of 17.9% from the February 13th total of 1,790,000 shares. Based on an average daily volume of 412,700 shares, the short-interest ratio is presently 3.6 days. Currently, 3.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several brokerages recently commented on TNET. Needham & Company LLC reaffirmed a “hold” rating on shares of TriNet Group in a report on Thursday, March 13th. TD Cowen downgraded shares of TriNet Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $104.00 to $74.00 in a report on Tuesday, February 18th.

TriNet Group Stock Performance

NYSE TNET traded down $0.41 during trading on Wednesday, reaching $79.22. The company’s stock had a trading volume of 479,977 shares, compared to its average volume of 333,373. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 13.16. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 23.16 and a beta of 1.26. TriNet Group has a 12 month low of $65.43 and a 12 month high of $134.67. The firm has a 50 day moving average price of $83.39 and a 200 day moving average price of $89.82.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. TriNet Group had a net margin of 3.46% and a return on equity of 200.82%. The firm had revenue of $252.00 million during the quarter, compared to the consensus estimate of $225.72 million. As a group, equities analysts anticipate that TriNet Group will post 3.04 EPS for the current fiscal year.

Insider Transactions at TriNet Group

In related news, CTO Jeffery Jon Hayward sold 1,364 shares of TriNet Group stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $69.36, for a total transaction of $94,607.04. Following the completion of the sale, the chief technology officer now owns 19,867 shares of the company’s stock, valued at approximately $1,377,975.12. The trade was a 6.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 600 shares of TriNet Group stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $69.36, for a total transaction of $41,616.00. Following the sale, the director now directly owns 36,991 shares of the company’s stock, valued at $2,565,695.76. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,748 shares of company stock worth $833,436 in the last ninety days. Insiders own 37.10% of the company’s stock.

Institutional Trading of TriNet Group

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of TriNet Group by 11.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 385,335 shares of the business services provider’s stock worth $37,366,000 after acquiring an additional 39,351 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of TriNet Group by 32.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider’s stock worth $156,018,000 after acquiring an additional 391,720 shares during the period. Simcoe Capital Management LLC bought a new stake in shares of TriNet Group during the 3rd quarter worth approximately $16,966,000. Tidal Investments LLC lifted its holdings in shares of TriNet Group by 5.4% during the 3rd quarter. Tidal Investments LLC now owns 5,121 shares of the business services provider’s stock worth $495,000 after acquiring an additional 263 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of TriNet Group by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider’s stock worth $128,169,000 after acquiring an additional 184,186 shares during the period. Institutional investors own 96.81% of the company’s stock.

About TriNet Group

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.