TriNet (TNET) Upgraded at Morgan Stanley

TriNet (NYSE:TNET) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $46.00 price objective on the business services provider’s stock. Morgan Stanley’s price target points to a potential downside of 5.51% from the company’s current price.

A number of other equities analysts have also weighed in on TNET. Zacks Investment Research lowered shares of TriNet from a “strong-buy” rating to a “hold” rating in a report on Friday, January 5th. Stifel Nicolaus boosted their price objective on shares of TriNet to $54.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.20.

How to Become a New Pot Stock Millionaire

Shares of NYSE TNET opened at $48.68 on Wednesday. TriNet has a twelve month low of $27.27 and a twelve month high of $49.00. The company has a market capitalization of $3,382.97, a P/E ratio of 28.41 and a beta of 2.50. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.86.

TriNet (NYSE:TNET) last announced its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.05). TriNet had a return on equity of 102.76% and a net margin of 5.42%. The firm had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $198.33 million. sell-side analysts expect that TriNet will post 2.19 earnings per share for the current fiscal year.

TriNet declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 27th that permits the company to repurchase $120.00 million in shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

In other TriNet news, Director Martin Babinec sold 36,500 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $43.53, for a total transaction of $1,588,845.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Edward Griese sold 4,471 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $40.86, for a total transaction of $182,685.06. Following the sale, the vice president now owns 9,532 shares of the company’s stock, valued at $389,477.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,109 shares of company stock valued at $9,721,254. Company insiders own 42.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS Asset Management Americas Inc. increased its stake in shares of TriNet by 6.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 24,641 shares of the business services provider’s stock worth $1,093,000 after purchasing an additional 1,412 shares in the last quarter. ETRADE Capital Management LLC increased its stake in shares of TriNet by 4.1% in the 4th quarter. ETRADE Capital Management LLC now owns 40,766 shares of the business services provider’s stock worth $1,808,000 after purchasing an additional 1,611 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of TriNet by 6.0% in the 4th quarter. California Public Employees Retirement System now owns 31,988 shares of the business services provider’s stock worth $1,418,000 after purchasing an additional 1,800 shares in the last quarter. American International Group Inc. increased its stake in shares of TriNet by 8.1% in the 3rd quarter. American International Group Inc. now owns 27,419 shares of the business services provider’s stock worth $922,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Capital Fund Management S.A. increased its stake in shares of TriNet by 25.6% in the 4th quarter. Capital Fund Management S.A. now owns 10,800 shares of the business services provider’s stock worth $479,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.

WARNING: “TriNet (TNET) Upgraded at Morgan Stanley” was originally published by Ticker Report and is the property of of Ticker Report. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://www.tickerreport.com/banking-finance/3335353/trinet-tnet-upgraded-at-morgan-stanley.html.

About TriNet

TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. 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 benefit law compliance; and other services.

Receive News & Ratings for TriNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Pabyosi Coin  Trading 10% Higher  This Week
Pabyosi Coin Trading 10% Higher This Week
Bolenum 24 Hour Volume Hits $177.00
Bolenum 24 Hour Volume Hits $177.00
Polaris Industries  Given Consensus Recommendation of “Hold” by Brokerages
Polaris Industries Given Consensus Recommendation of “Hold” by Brokerages
Viper Energy Partners  Given Consensus Recommendation of “Buy” by Brokerages
Viper Energy Partners Given Consensus Recommendation of “Buy” by Brokerages
Deckers Outdoor Co.  Expected to Announce Quarterly Sales of $377.25 Million
Deckers Outdoor Co. Expected to Announce Quarterly Sales of $377.25 Million
TimkenSteel  Expected to Announce Quarterly Sales of $372.53 Million
TimkenSteel Expected to Announce Quarterly Sales of $372.53 Million


© 2006-2018 Ticker Report. Google+.