Paycom Listed Fourth on Forbes’ Fast Tech 25 List
OKLAHOMA CITY – Paycom Software, Inc. (“Paycom”) (NYSE:PAYC), a leading provider of comprehensive, cloud-based human capital management software, today announced it has ranked fourth on Forbes magazine’s 2017 Fast Tech 25, a list of America’s fastest-growing publicly traded technology companies.
Paycom’s inaugural inclusion on Forbes’ Fast Tech 25 ranks Oklahoma City’s fastest-growing publicly traded company above notable companies such as Amazon, PayPal and Google’s parent company, Alphabet and just two spots behind Facebook.
“Placing in the top five of this list is a testament to our HCM technology, and our continuing emphasis as a sales- and service-oriented organization,” said Paycom’s founder and chief executive officer, Chad Richison.
Paycom’s 2016 financial highlights include revenue of $329.1 million, a 46.5 percent increase over the comparable prior year, and a compound annual growth rate of 45 percent over the previous three years.
Forbes annually reviews more than 5,000 publicly traded tech companies in search of profitable businesses with a minimum revenue of $150 million, a minimum market value of $500 million and sales growth of at least 10 percent for each of the past three fiscal years and over the latest 12 months. The Fast Tech 25 ranking order is based on each company’s three-year average sales growth rate, in descending order.
According to Forbes, the companies on the Fast Tech 25 have three years of strong sales growth combined with industry-leading projected earnings growth for the next three to five years. To learn more about the Forbes Fast Tech 25 list for 2017, click here.