Sio Capital Management adds TriNet Group Inc (TNET) to its portfolio

TriNet Group Inc (TNET) : Sio Capital Management added new position in TriNet Group Inc during the most recent quarter end. The investment management firm now holds 313,675 shares of TriNet Group Inc which is valued at $6,584,038 , the company said in a statement filed on Aug 15, 2016 with the SEC.TriNet Group Inc makes up approximately 2.95% of Sio Capital Management’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp reduced its stake in TNET by selling 559,285 shares or 10.89% in the most recent quarter. The Hedge Fund company now holds 4,576,082 shares of TNET which is valued at $96,051,961. TriNet Group Inc makes up approx 0.02% of Wellington Management Group Llp’s portfolio.Norges Bank boosted its stake in TNET in the latest quarter, The investment management firm added 123,881 additional shares and now holds a total of 302,173 shares of TriNet Group Inc which is valued at $6,342,611.New York State Common Retirement Fund boosted its stake in TNET in the latest quarter, The investment management firm added 52,262 additional shares and now holds a total of 91,862 shares of TriNet Group Inc which is valued at $1,928,183.

TriNet Group Inc opened for trading at $20.95 and hit $21.27 on the upside on Wednesday, eventually ending the session at $21.21, with a gain of 0.86% or 0.18 points. The heightened volatility saw the trading volume jump to 396,981 shares. Company has a market cap of $1,490 M.

On the company’s financial health, TriNet Group Inc reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.25. The company had revenue of $745.80 million for the quarter, compared to analysts expectations of $730.12 million. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on TriNet Group Inc. TriNet Group Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Aug 4, 2016. Company shares were Reiterated by Piper Jaffray on Aug 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 21 from a previous price target of $18 .Company shares were Reiterated by Deutsche Bank on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 25 from a previous price target of $20 .

TriNet Group Inc. is a provider of a human resources solution for small to medium-sized businesses (SMBs). The Company’s human resource solution includes services such as payroll processing human capital consulting employment law compliance and employee benefits including health insurance retirement plans and workers compensation insurance. Its services are delivered by HR professionals and enabled by its cloud-based technology platform which allows its clients and employees of clients to conduct HR transactions anytime and anywhere. The Company serves thousands of clients in specific industry vertical markets including technology life sciences property management professional services banking and financial services retail manufacturing and hospitality services as well as non-profit entities. As of December 31 2014 it served over 10000 clients in all 50 states of the United States the District of Columbia and Canada.

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