TriNet Group, Inc. (NYSE:TNET) will look for M&A. Kelly Tuminelli, Executive Vice President and Chief Financial Officer, said, “I love talking about capital allocation. We -- when I think about capital allocation, first and foremost, I'm going to invest in growing our business. So organic growth is our #1 priority.

Second of all, we will look at M&A. We haven't done anything recently on the M&A front. And frankly, valuations are high, and we want to make sure that M&A is accretive to our shareholder base. But when I think about M&A, I'm really thinking about it in 2 different ways.

One, I'm thinking about it for within the PEO space, are there geographies or verticals or things that would complement our current offerings and really fit within the TriNet umbrella and help us expand in areas where we may not be as strong. And then secondly, technology. In the technology side, is there something that I think will be beneficial to our client base or help us get more clients in.

And we're looking at that”.