Tappan Street Partners Lowers stake in TriNet Group Inc (TNET)

TriNet Group Inc (TNET) : Tappan Street Partners reduced its stake in TriNet Group Inc by 34.09% during the most recent quarter end. The investment management company now holds a total of 290,000 shares of TriNet Group Inc which is valued at $6,087,100 after selling 150,000 shares in TriNet Group Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.TriNet Group Inc makes up approximately 7.16% of Tappan Street Partners’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc reduced its stake in TNET by selling 46,497 shares or 21.87% in the most recent quarter. The Hedge Fund company now holds 166,138 shares of TNET which is valued at $3,487,237. Paradigm Asset Management Co sold out all of its stake in TNET during the most recent quarter. The investment firm sold 5,700 shares of TNET which is valued $119,643.Tower Research Capital (trc) boosted its stake in TNET in the latest quarter, The investment management firm added 873 additional shares and now holds a total of 1,463 shares of TriNet Group Inc which is valued at $30,708.Quantbot Technologies Lp reduced its stake in TNET by selling 12,894 shares or 84.81% in the most recent quarter. The Hedge Fund company now holds 2,310 shares of TNET which is valued at $48,464. Old Mutual Global Investors (uk) Ltd. sold out all of its stake in TNET during the most recent quarter. The investment firm sold 82,584 shares of TNET which is valued $1,847,404.

TriNet Group Inc opened for trading at $21.04 and hit $21.29 on the upside on Thursday, eventually ending the session at $21.26, with a gain of 1.24% or 0.26 points. The heightened volatility saw the trading volume jump to 3,03,456 shares. Company has a market cap of $1,493 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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