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.
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.