NEW YORK (TheStreet) -- Shares of TriNet Group, Inc. (TNET) were up 16.7% to $22.29 on Friday, continuing the company's climb one day after its initial public offering that valued the company at $1.09 billion.
The company opened trading Thursday at $18.50 after pricing 15 million shares of common stock at $16.
TriNet Group is a cloud-based human resource solution provider that allows small and medium sized businesses to outsource their HR needs.
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TriNet provided services for 8,900 clients across the country as of December 31, 2013. The company also co-employed almost 231,000 of their client's employees and processed over $17 billion in payroll and payroll tax payments for their clients.