TriNet Group, Inc. (NYSE:TNET) will look for M&A. Kelly Tuminelli Executive Vice President and CFO said, "In July, we made our financial policy public. So before that, we'd really been operating under our financial policy, having discussions with our Board of Directors, talking about what the appropriate leverage for TriNet was, but did decide, as we were going to reshape our balance sheet over the summer, that it was going to be important to investors like all of you for us to make that very, very clear in terms of what we were targeting. First and foremost, though, I want to make sure we're clear.

We're always going to invest in core organic growth, first and foremost. So that's our first capital priority. Second, we'll look at M&A. We'll look at M&A opportunistically with a lens of what can be accretive to our shareholders overall and what's really going to add value to our customers that they're willing to pay for".