Cadian Capital Management Lp Lowers stake in TriNet Group Inc (TNET)

TriNet Group Inc (TNET) : Cadian Capital Management Lp reduced its stake in TriNet Group Inc by 37.97% during the most recent quarter end. The investment management company now holds a total of 2,131,595 shares of TriNet Group Inc which is valued at $44,742,179 after selling 1,304,818 shares in TriNet Group Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.TriNet Group Inc makes up approximately 2.34% of Cadian Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag added TNET to its portfolio by purchasing 35,430 company shares during the most recent quarter which is valued at $743,676.Tiaa Cref Investment Management reduced its stake in TNET by selling 3,087 shares or 1.21% in the most recent quarter. The Hedge Fund company now holds 251,021 shares of TNET which is valued at $5,268,931.Vanguard Group Inc boosted its stake in TNET in the latest quarter, The investment management firm added 89,755 additional shares and now holds a total of 3,410,248 shares of TriNet Group Inc which is valued at $71,581,106. Princeton Alpha Management Lp sold out all of its stake in TNET during the most recent quarter. The investment firm sold 30,769 shares of TNET which is valued $646,457.California State Teachers Retirement System boosted its stake in TNET in the latest quarter, The investment management firm added 1,156 additional shares and now holds a total of 88,351 shares of TriNet Group Inc which is valued at $1,853,604.

TriNet Group Inc closed down -0.04 points or -0.19% at $21.05 with 1,56,361 shares getting traded on Monday. Post opening the session at $21.05, the shares hit an intraday low of $21.01 and an intraday high of $21.38 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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