OKLAHOMA CITY — In a time of falling oil prices, slowing production, and layoffs, the oil and gas industry that Oklahoma is known for is slumping. But other industries, like technology, are booming.
In fact, one Oklahoma tech company is seeing exponential growth and is putting the Sooner State on center stage.
“Every time we meet people, they find out where we are headquarted, they kinda smile and look at us and say, ‘Really, a tech company in Oklahoma? How is that possible?'” Stacey Pezold, Paycom COO, said.
Human resources technology company, Paycom, started small…with only three people in a tiny Oklahoma City office.
They then expanded to Tulsa, and now they employ around 1,000 people in 35 locations across the nation.
The massive headquarters building is in OKC, and the company attributes the success to the city for giving them the opportunity to grow.
“Oklahoma has been pivotal in getting our business started and we find it a great place to find talent. We are one of the largest tech companies in Oklahoma and have the largest market cap in Oklahoma, and this is one place people want to come and work,” Stacey Pezold said. “We find young professionals want to live and stay in places they were raised and give to local community, and Paycom is a great place to do that. You don’t have to move to Silicon Valley to take advantage of technology career, so we are very proud to be headquarted in Oklahoma.”
In April of 2014, Paycom took the next step in their success story.
In their first year as a publicly traded company, Paycom’s stock prices doubled, and the company was given the chance to take center stage and ring the New York Stock Exchange bell.
“It was just incredible. The word pride is what comes to mind…looking down at the leadership team that was there supporting us at the New York Stock Exchange…looking across at the CEO. You see all the hard work that’s gone into bringing our company to that point, and to celebrate in that way, it was really incredible,” Pezold said.
It’s that pride that other employees, like Heidi Lively, say they feel too.
“People always say the grass is always greener. But we are green here, and I don’t think there is any greener grass,” Lively said.
That green grass at Paycom is continuing to take the company to the next level of success.
Paycom came out with its first quarter earnings last week. They increased sales in the first quarter over last year’s by nearly 50 percent.
Its stock price started at just over $15, and at the close of the market, is now selling at almost $40 per share.