Morgan Stanley Lowers TriNet Group, Inc. (TNET) to Underweight
Morgan Stanley downgraded shares of TriNet Group, Inc. (NYSE:TNET) from an equal weight rating to an underweight rating in a research report released on Tuesday, MarketBeat.com reports. They currently have $31.00 target price on the business services provider’s stock, up from their previous target price of $27.00.
TNET has been the subject of a number of other research reports. Zacks Investment Research cut shares of TriNet Group from a buy rating to a hold rating in a research note on Wednesday, May 3rd. Stifel Nicolaus upped their price objective on shares of TriNet Group from $34.00 to $37.00 and gave the company a buy rating in a research note on Wednesday, May 3rd. Deutsche Bank AG upped their price objective on shares of TriNet Group from $30.00 to $31.00 and gave the company a hold rating in a research note on Wednesday, May 3rd. BidaskClub raised shares of TriNet Group from a hold rating to a buy rating in a research note on Thursday, June 15th. Finally, J P Morgan Chase & Co cut shares of TriNet Group from a neutral rating to an underweight rating and upped their price objective for the company from $33.00 to $36.00 in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $37.40.
TriNet Group (NYSE:TNET) opened at 35.27 on Tuesday. The company has a market cap of $2.45 billion, a PE ratio of 23.70 and a beta of 2.94. TriNet Group has a 52-week low of $17.78 and a 52-week high of $41.58. The company has a 50-day moving average of $35.51 and a 200 day moving average of $31.08.
TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.18. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The business had revenue of $201.01 million during the quarter, compared to analysts’ expectations of $168.27 million. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that TriNet Group will post $1.49 EPS for the current year.
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In related news, VP Edward Griese sold 3,494 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $35.45, for a total transaction of $123,862.30. Following the completion of the sale, the vice president now directly owns 8,504 shares in the company, valued at approximately $301,466.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne B. Lowell sold 20,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $39.15, for a total transaction of $783,000.00. The disclosure for this sale can be found here. Insiders sold a total of 481,962 shares of company stock valued at $16,979,048 in the last ninety days. 42.40% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Cramer Rosenthal Mcglynn LLC purchased a new stake in TriNet Group during the second quarter worth approximately $18,537,000. Wellington Management Group LLP raised its stake in TriNet Group by 9.4% in the first quarter. Wellington Management Group LLP now owns 4,970,312 shares of the business services provider’s stock worth $143,643,000 after buying an additional 428,077 shares in the last quarter. Vanguard Group Inc. raised its stake in TriNet Group by 11.0% in the first quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock worth $122,217,000 after buying an additional 418,005 shares in the last quarter. FMR LLC raised its stake in TriNet Group by 58.7% in the second quarter. FMR LLC now owns 906,982 shares of the business services provider’s stock worth $29,695,000 after buying an additional 335,381 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in TriNet Group during the first quarter worth approximately $6,194,000. Institutional investors own 52.87% of the company’s stock.
About TriNet Group
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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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