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Paycom

Logo: Paycom, Public domain, via Wikimedia Commons5

American information technology company

Paycom Software, Inc., known simply as Paycom, is an online payroll and human resource software provider based in Oklahoma City, Oklahoma, with offices throughout the United States. It is attributed with being one of the first fully online payroll providers. Founded in 1998, it reported annual revenue of $2.052 billion for 2025, up from $1.883 billion for 2024.3 It was founded by Chad Richison.1 Its chief executive is Chad Richison.1 Wikipedia text CC BY-SA 4.0

$249.06 up 10.05 (4.21%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 21, 2026.

Overview

1998Founded1

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  • TickerPAYC on NYSE1
  • Industryhuman resource management1
  • HeadquartersOklahoma City1
  • Websitewww.paycom.com
  • Legal formpublic company1
  • Incorporated inDE6
  • Business address7501 W. Memorial Road, Oklahoma City, Ok 731426
  • Filer categoryLarge accelerated filer6

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Paycom Software, Inc., known simply as Paycom, is an online payroll and human resource software provider based in Oklahoma City, Oklahoma, with offices throughout the United States. It is attributed with being one of the first fully online payroll providers. Founded in 1998, it reported annual revenue of $2.052 billion for 2025, up from $1.883 billion for 2024.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

83.2%Gross margin9
27.6%Operating margin9
22.1%Net margin9
8.9%Revenue growth, 20259
26.2%Return on equity9
$408.0MFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Recurring brought in 93% of the revenue Paycom broke down this way in fiscal 2025.

  1. Recurring$1.9B993%up 10% from 2024
  2. Interest on Funds Held For Clients$113.0M96%down 10% from 2024
  3. Implementation And Other$26.0M91%up 7% from 2024
Products and services by year
Products and services202320242025
Recurring$1.6B$1.7B$1.9B
Interest on Funds Held For Clients$108.0M$124.9M$113.0M
Implementation And Other$22.3M$24.4M$26.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue14¢$345.4M
  • Research and development12¢$283.4M
  • Selling, general and admin48¢$1.1B
  • Interest0¢$3.4M
  • Income tax7¢$166.0M
  • Profit19¢$453.4M

Out of $2.1B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Capital spending40¢$270.9M
  • Dividends paid12¢$84.8M
  • Share buybacks48¢$325.5M

Out of $678.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.9

Financial statements

Revenue101112139$2.1B in 2025+178% since 2019
0$1.0B$2.0B$3.0B2019: $737.7M$737.7M20192020: $841.4M$841.4M2020+14%2021: $1.1B$1.1B2021+25%2022: $1.4B$1.4B2022+30%2023: $1.7B$1.7B2023+23%2024: $1.9B$1.9B2024+11%2025: $2.1B$2.1B2025+9%
Gross profit139$1.7B in 2025+47% since 2022
0$500.0M$1.0B$1.5B$2.0B2022: $1.2B$1.2B20222023: $1.4B$1.4B2023+22%2024: $1.5B$1.5B2024+9%2025: $1.7B$1.7B2025+10%
Operating income101112139$567.2M in 2025+151% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $226.2M$226.2M20192020: $186.1M$186.1M2020−18%2021: $253.6M$253.6M2021+36%2022: $378.7M$378.7M2022+49%2023: $451.3M$451.3M2023+19%2024: $634.3M$634.3M2024+41%2025: $567.2M$567.2M2025−11%
Net income101112139$453.4M in 2025+151% since 2019
0$200.0M$400.0M$600.0M2019: $180.6M$180.6M20192020: $143.5M$143.5M2020−21%2021: $196.0M$196.0M2021+37%2022: $281.4M$281.4M2022+44%2023: $340.8M$340.8M2023+21%2024: $502.0M$502.0M2024+47%2025: $453.4M$453.4M2025−10%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Total revenues$2.1B$1.9B$1.7B
Operating expenses$263.0M$267.4M$223.7M
Depreciation and amortization$82.4M$67.2M$52.6M
Total cost of revenues$345.4M$334.6M$276.3M
Sales and marketing$482.8M$434.4M$417.6M
Research and development$283.4M$242.6M$199.0M
General and administrative$279.0M$158.6M$288.1M
Depreciation and amortization$93.9M$78.7M$61.4M
Total administrative expenses$1.1B$914.3M$966.1M
Total operating expenses$1.5B$1.2B$1.2B
Operating income$567.2M$634.3M$451.3M
Interest expense-$3.4M-$3.4M-$1.9M
Other income, net$55.6M$18.1M$23.0M
Income before income taxes$619.4M$649.0M$472.4M
Provision for income taxes$166.0M$147.0M$131.6M
Net income$453.4M$502.0M$340.8M
Earnings per share, basic$8.13$8.93$5.91
Earnings per share, diluted$8.08$8.92$5.88
Basic55.8M shares56.2M shares57.7M shares
Diluted56.1M shares56.3M shares58.0M shares
Unrealized net gains on available-for-sale securities$1.0M$1.0M$3.5M
Tax effect-$100.0K-$600.0K-$800.0K
Other comprehensive income, net of tax$900.0K$400.0K$2.7M
Comprehensive earnings$454.3M$502.4M$343.5M

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Corporate structure

Paycom sits at the top of its group. 11 entities, 5 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Paycom

  • Paycom Oklahoma City
    • Paycom Canada, Inc. Subsidiary · Canada
    • Paycom Client Trust Subsidiary · Delaware, United States
    • Paycom Europe Limited Subsidiary · Ireland
    • Paycom Global Limited Subsidiary · United Kingdom
    • Paycom National Trust Bank, N.A. Subsidiary · Delaware, United States
    • Paycom Payroll Holdings, LLC Subsidiary · Delaware, United States
    • Paycom Payroll, LLC Subsidiary · Delaware, United States
    • PC HCM PAY MEXICO, S. DE R.L. DE C.V. Subsidiary · Mexico
    • WCAS CP IV Blocker, Inc. Subsidiary · Delaware, United States
    • WCAS Paycom Holdings, Inc. Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Paycom reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.4B9 Dec 31, 2025$1.1B9 Dec 31, 2024+28.2%
Accumulated depreciation$743.5M9 Dec 31, 2025$576.4M9 Dec 31, 2024+29.0%
Operating-lease assets (leased space)$89.4M9 Dec 31, 2025$80.6M9 Dec 31, 2024+10.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$370.0M9 Dec 31, 2025$402.0M9 Dec 31, 2024−8.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$51.9M9 Dec 31, 2025$51.9M9 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$37.4M9 Dec 31, 2025$46.2M9 Dec 31, 2024−19.0%
Finite-lived intangibles, gross$60.2M13 Dec 31, 2024$60.2M13 Dec 31, 20230%
Accumulated amortization$14.0M13 Dec 31, 2024$10.1M13 Dec 31, 2023+38.6%
Finite-lived intangibles, net$46.2M13 Dec 31, 2024$50.1M13 Dec 31, 2023−7.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.7M9 Dec 31, 2025$1.4M9 Dec 31, 2024+21.4%

Properties, in its own words

Our corporate headquarters is an approximately 815,000-square-foot campus located on over 150 acres of Company-owned property in Oklahoma City, Oklahoma. We also have an operations facility on approximately 14 acres of Company-owned property in Grapevine, Texas. We operate fully redundant data centers in Oklahoma, Texas and Arizona.

As of December 31, 2025, we lease facilities in 29 states and in certain international locations. We believe that these facilities are suitable for our current operations and, upon the expiration of the terms of the leases, we believe we could renew these leases or find suitable space elsewhere on acceptable terms.

Item 2 of the 10-K filed Feb 19, 2026.18

The story

Founded by Chad Richison in 1998.1

Paycom was founded in 1998 by Chad Richison, who previously worked in the payroll processing industry. It began as an online payroll service provider for businesses, and expanded to offer additional services including human resource management in 2001. On April 15, 2014, Paycom opened for trade on the New York Stock Exchange under the ticker symbol PAYC.

In 2011, it released additional services including E-Verify, onboarding, expense management, and document storage. In 2014, Paycom built a 90,000-square-foot addition to its headquarters—effectively doubling the size of its offices. The company completed construction on its third and fourth buildings (in 2016 and 2018, respectively). In 2024, it opened its fifth building, bringing the total square-footage of its corporate campus to 815,000. In May 2022, Paycom held a grand opening ceremony for a new 150,000 square-foot operations center in Grapevine, Texas.

CEO Chad Richison was the highest paid executive in the United States in 2020, earning $211.13 million from Paycom as part of a 10-year performance contract. The compensation consists mostly of stock shares that only vest if the company reaches specific stock price benchmarks by 2026 and 2030.

In 2021, Paycom announced the release of Beti, an enhancement to its payroll system allowing employees to complete their own payroll. Later that year, they bought the naming rights to the Paycom Center, home of the Oklahoma City Thunder.

In 2023, the company expanded its Global HCM offerings, providing access in more than 190 countries.

In December 2023, Paycom announced its next step in HR automation, GONE, a decisioning logic enhancement to existing Time-Off Request software.

In July 2025, Paycom launched IWant™, a command-driven AI engine allowing users to seek information about employee data without having to navigate through the software.

From Wikipedia’s article on Paycom, shared under CC BY-SA 4.0.7

Leadership

Who has led Paycom, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Chad Richison2014–now

Chair

  1. Chad Richison2024–now

President

  1. Chad Richison2014–2026
  2. Terrell Shane Hadlock2026–now

Chief financial officer

  1. Craig E. Boelte2014–2025
  2. Robert D. Foster2025–now

Chief operating officer

  1. Stacey M. Pezold2015–2017
  2. Randall Peck2024–now
200020052010201520202025
Board members and other officers (26)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • PC HCM PAY MEXICO, S. DE R.L. DE C.V. Mexico8
  • Paycom Canada, Inc. Canada8
  • Paycom Client Trust Delaware8
  • Paycom Europe Limited Ireland8
  • Paycom Global Limited United Kingdom8
  • Paycom National Trust Bank, N.A. Delaware8
  • Paycom Payroll Holdings, LLC Delaware8
  • Paycom Payroll, LLC Delaware8
  • WCAS CP IV Blocker, Inc. Delaware8
  • WCAS Paycom Holdings, Inc. Delaware8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 5, 20268-K Results of operations51
  2. Aug 3, 20268-K Other events52
  3. Jul 9, 20268-K Executive or director change; Regulation FD disclosure53
  4. May 7, 20268-K Shareholder vote54
  5. May 6, 20268-K Results of operations55
  6. May 4, 20268-K Other events56
  7. Apr 23, 20268-K Entered a material agreement; New debt or obligation57
  8. Mar 26, 20268-K Executive or director change58
  9. Mar 12, 20268-K Entered a material agreement; New debt or obligation59
  10. Mar 5, 20268-K Other events60
  11. Feb 19, 20268-K Executive or director change; Bylaws or fiscal year changed; Regulation FD disclosure61
  12. Feb 19, 20268-K Executive or director change; Bylaws or fiscal year changed; Regulation FD disclosure62
  13. Apr 15, 2014Went public Listed on NYSE1
  14. Apr 10, 2014New chief executive Chad Richison becomes CEO1
  15. 1998Founded Founded1

Calendar

Coming up

  1. Nov 4, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.39 a share, on Nov 5, 2025.63

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results51
  2. May 6, 2026Reported quarterly or annual results55
  3. Feb 11, 2026Reported quarterly or annual results64
  4. Nov 5, 2025Reported quarterly or annual results65
  5. Aug 6, 2025Reported quarterly or annual results66
  6. May 7, 2025Reported quarterly or annual results67
  7. Feb 12, 2025Reported quarterly or annual results68
  8. Oct 30, 2024Reported quarterly or annual results69

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

476 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 71 major events, 314 insider forms, 27 large holders, 44 other. The latest 20:

  1. Sep 3, 2026SCHEDULE 13D/A EDGAR
  2. Aug 31, 20264 EDGAR
  3. Aug 28, 2026144 EDGAR
  4. Aug 21, 20263/A EDGAR
  5. Aug 12, 20264 EDGAR
  6. Aug 6, 202610-Q EDGAR
  7. Aug 5, 20268-K EDGAR
  8. Aug 3, 20268-K EDGAR
  9. Jul 10, 20264 EDGAR
  10. Jul 10, 20263 EDGAR
  11. Jul 10, 20264 EDGAR
  12. Jul 10, 20263 EDGAR
  13. Jul 9, 20268-K EDGAR
  14. Jun 16, 20264 EDGAR
  15. May 19, 20264 EDGAR
  16. May 15, 2026144 EDGAR
  17. May 15, 2026SCHEDULE 13G/A EDGAR
  18. May 12, 20264 EDGAR
  19. May 12, 20264 EDGAR
  20. May 7, 202610-Q EDGAR

The 476 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

169 open-market trades by officers, directors and large owners since October 2021: 3 buys and 166 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 28, 2026Hadlock Terrell ShanePresident/Chief Client OfficerSale241$240.07$57.9KForm 4
Aug 27, 2026Hadlock Terrell ShanePresident/Chief Client OfficerSale2,577$237.60$612.3KForm 4
May 18, 2026Peck RandallChief Operating OfficerSale2,500$140.50$351.2KForm 4
Dec 10, 2025Foster Robert D.Chief Financial OfficerSale1,300$162.66$211.5KForm 4
Dec 5, 2025Peck RandallChief Operating OfficerSale2,192$165.85$363.5KForm 4
Sep 12, 2025Smith Bradley ScottChief Information OfficerSale1,500$223.27$334.9KForm 4
Jun 12, 2025Smith Bradley ScottChief Information OfficerSale1,500$249.96$374.9KForm 4
Jun 5, 2025Richison Chad R.CEO and ChairmanSale6,800$265.32$1.8MForm 4
Jun 4, 2025Richison Chad R.CEO and ChairmanSale23,200$265.20$6.2MForm 4
Jun 4, 2025Peck RandallChief Operating OfficerSale890$263.22$234.3KForm 4
May 13, 2025Richison Chad R.CEO and ChairmanSale30,000$260.52$7.8MForm 4
May 12, 2025Richison Chad R.CEO and ChairmanSale26,426$255.52$6.8MForm 4
May 9, 2025Richison Chad R.CEO and ChairmanSale3,574$255.01$911.4KForm 4
May 8, 2025Richison Chad R.CEO and ChairmanSale120,000$243.52$29.2MForm 4
Mar 13, 2025Smith Bradley ScottChief Information OfficerSale3,000$201.01$603.0KForm 4
Feb 24, 2025WATTS J C JRDirectorSale500$218.22$109.1KForm 4
Feb 21, 2025Peck RandallChief Operating OfficerSale3,600$212.19$763.9KForm 4
Feb 18, 2025PETERS FREDERICK C IIDirectorSale1,500$210.57$315.9KForm 4
Nov 13, 2024Richison Chad R.CEO and ChairmanSale3,900$229.09$893.5KForm 4
Nov 12, 2024Richison Chad R.CEO and ChairmanSale3,900$228.65$891.7KForm 4

All 169 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Chad RichisonChief Executive Officer$858.9K$22.8M76
2025Bradley S. SmithFormer Chief Information Officer$548.9K$7.8M76
2025Amy Vickroy WalkerFormer Chief Sales Officer$533.7K$5.9M76
2025Robert D. FosterChief Financial Officer$554.0K$5.8M76
2025Randy PeckChief Operating Officer$527.7K$5.2M76
2025Shane HadlockPresident and Chief Client Officer$550.0K$2.6M76
2025Craig E. BoelteFormer Chief Financial Officer$104.8K$202.7K76
2024Randy PeckChief Operating Officer$405.7K$8.6M76
2024Craig E. BoelteFormer Chief Financial Officer$537.6K$4.2M76
2024Chad RichisonChief Executive Officer$821.8K$3.5M76
2024Amy Vickroy WalkerFormer Chief Sales Officer$471.1K$2.7M76
2024Bradley S. SmithFormer Chief Information Officer$523.1K$2.7M76
2023Craig E. BoelteFormer Chief Financial Officer$516.9K$17.2M76
2023Bradley S. SmithFormer Chief Information Officer$501.9K$15.4M76
2023Chad RichisonChief Executive Officer$817.1K$3.1M76

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.5,032,303$632.5M0.0%−1,008,806
Harris Associates L P3,397,446$427.0M0.6%+139,672
Vanguard Portfolio Management LLC2,070,073$260.2M0.0%−320,831
Vanguard Capital Management LLC1,843,191$231.7M0.0%−259,955
Two Sigma Investments, LP1,400,923$176.1M0.1%−346,743
State Street Corp1,383,048$173.8M0.0%−343,901
Reinhart Partners, Llc.1,219,906$153.3M3.5%+204,191
Geode Capital Management, LLC1,213,158$152.5M0.0%−109,695
Baillie Gifford & Co975,398$122.6M0.1%−561,880
First Trust Advisors LP974,155$122.4M0.1%+92,274
BNP PARIBAS ASSET MANAGEMENT Holding S.A.879,455$110.5M0.1%+69,061
Loring Wolcott & Coolidge Fiduciary Advisors Llp/ma726,250$91.3M0.9%−43,397
Fmr LLC695,908$87.5M0.0%−501,428
Universal- Beteiligungs- und Servicegesellschaft mbH675,251$84.9M0.1%+18,132
Goldman Sachs Group Inc654,870$82.3M0.0%−157,558
Federated Hermes, Inc.628,564$79.0M0.1%+19,445
Morgan Stanley616,919$77.5M0.0%−203,067
Quantinno Capital Management LP581,545$73.1M0.1%+306,180
River Road Asset Management, LLC522,119$65.6M0.7%−17,104
Charles Schwab Investment Management Inc514,915$64.7M0.0%−22,010
Dimensional Fund Advisors LP499,182$62.7M0.0%−39,194
American Century Companies Inc473,676$59.5M0.0%+428,226
Sather Financial Group Inc384,736$48.4M2.8%+74,007
Marshall Wace, Llp380,057$47.8M0.0%+110,173
Confluence Investment Management LLC374,387$47.1M0.7%−33,360

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

12 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Apr 14, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseSale$1,001 - $15,000−99.9%Report
Mar 13, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+84.6%Report
Sep 25, 2025Julie JohnsonDemocratic, HouseSale$1,001 - $15,000−0.4%Report
Sep 23, 2025Julie JohnsonDemocratic, HouseBuy$1,001 - $15,000−1.3%Report
Sep 23, 2025Julie JohnsonDemocratic, HouseSale$1,001 - $15,000+1.3%Report
Apr 4, 2024Tommy TubervilleRepublican, SenateSale$1,001 - $15,000+22.6%Report
Mar 6, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000+104.4%Report
Oct 6, 2022Tommy TubervilleRepublican, SenateBuy$1,001 - $15,000−135.3%Report
Apr 9, 2021Sara JacobsDemocratic, HouseSale$15,001 - $50,000+121.2%Report
Feb 19, 2021Sara JacobsDemocratic, HouseBuy$15,001 - $50,000−134.7%Report
Oct 13, 2020Greg Gianforte, HousePartial sale$1,001 - $15,000+152.8%Report
Feb 5, 2020Greg Gianforte, HousePartial sale$15,001 - $50,000+153.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Paycom is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPaycom Software, Inc.2
  • CIK0001590955
  • Employer ID (EIN)80-095748518
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inDelaware18
  • Fiscal year endsDecember 312
  • Industry code (SIC)7372 Services-Prepackaged Software2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address7501 W. Memorial Road, Oklahoma City, OK 731422
  • Phone(405) 722-69002
  • Shares outstanding45,071,619 as of Jul 28, 202616
  • Public float$11.9B as of Jun 30, 202518
  • AuditorGRANT THORNTON LLP, Oklahoma City, Oklahoma PCAOB ID 248; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceDec 9, 20132
  • Filings1,149 in all: 4 (708), 8-K (147), 10-Q (38), 3 (38), SC 13G/A (34), 144 (28), 5 (28), SC 13D/A (18)2
    All 39 form types

    SC 13G (14), 10-K (12), DEF 14A (12), DEFA14A (7), ARS (5), CORRESP (5), SCHEDULE 13G/A (5), UPLOAD (5), 3/A (4), S-1/A (4), 424B3 (3), 424B5 (3), 8-K/A (3), S-8 (3), SCHEDULE 13D/A (3), 424B4 (2), DRS/A (2), DRSLTR (2), EFFECT (2), S-1 (2), SCHEDULE 13G (2), 10-Q/A (1), 4/A (1), 8-A12B (1), CERTNYS (1), D (1), DRS (1), FWP (1), PRE 14A (1), S-3ASR (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Feb 19, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 2, 2026
    Latest 8-K (8-K) Aug 5, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par valuePAYCNew York Stock Exchange

From the cover page of the 10-K filed Feb 19, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks Paycom names in Item 1A of its 10-K filed Feb 19, 2026: 36 risks under these headings, as written.18

  • The risk factors noted in this section and other factors noted throughout this Form 10-K, including those risks identified in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” describe examples of risks, uncertainties and events that may cause our actual results to differ materially from those contained in any forward-looking statement. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, actual outcomes may vary materially from those included in this Form 10-K.
  • Risks Related to Our Business
  • If our security measures are breached, or unauthorized access to sensitive data is otherwise obtained, our solution may not be perceived as being secure, clients may reduce the use of or stop using our solution, our ability to attract new clients may be harmed and we may incur significant liabilities.
  • Any damage, failure or disruption of our network infrastructure or data centers could impair our ability to effectively provide our solution, harm our reputation and adversely affect our business.
  • If we are not able to develop enhancements and new applications, keep pace with technological developments or respond to future disruptive technologies, we might not remain competitive and our business could be adversely affected.
  • The market in which we participate is highly competitive, and if we do not compete effectively, our business, operating results or financial condition could be adversely affected.
  • Our business depends on our clients’ continued use of our applications, their purchases of additional applications from us and our ability to add new clients. Any decline in our clients’ continued use of our applications or purchases of additional applications could adversely affect our business, operating results or financial condition.
  • Our business, operating results or financial condition could be adversely affected if our solution fails to perform properly or our clients are not satisfied with our services.
  • We face challenges related to attracting and retaining larger clients, including demand for customized features, longer sales cycles and less predictability in completing sales.
  • We are dependent on the leadership of our key executives and, if we fail to retain such key executives, our business could be adversely affected.
  • If we are unable to attract and retain qualified personnel, including software developers, product managers and skilled IT, sales, marketing and operational personnel, our ability to develop and market new and existing products and, in turn, increase our revenue and profitability could be adversely affected.
  • Our business and operations have experienced significant growth and organizational change. If we fail to manage such growth and change effectively, we may be unable to execute our business plan, maintain high levels of service or adequately address competitive challenges.
The other 25 risks
  • The failure to develop and maintain our brand cost-effectively could have an adverse effect on our business.
  • As we continue to enhance our solution to serve clients located outside of the United States, our business is subject to risks associated with international operations.
  • Our business depends in part on the success of our relationships with third parties.
  • We employ third-party licensed software for use in our applications and the inability to maintain these licenses or errors in the software we license could result in increased costs or reduced service levels, which could adversely affect our business.
  • The use of open-source software in our applications may expose us to additional risks and harm our intellectual property rights.
  • Our increasing focus on, and investments in, automation expose us to a number of risks.
  • If we fail to adequately protect our proprietary rights, our competitive advantage could be impaired and we may lose valuable assets, generate reduced revenues or incur costly litigation to protect our rights.
  • We may be sued by third parties for alleged infringement of their proprietary rights.
  • We may acquire other businesses, applications or technologies, which could divert our management’s attention, result in additional dilution to our stockholders and otherwise disrupt our operations and harm our operating results.
  • Legal and Regulatory Risks
  • Changes in laws, government regulations and policies could have a material adverse effect on our business and results of operations.
  • Failure to comply with privacy, data protection and cybersecurity laws and regulations could have a materially adverse effect on our reputation, results of operations or financial condition, or have other adverse consequences.
  • The adoption of new, or adverse interpretations of existing U.S. state, U.S. federal, or foreign money transmitter, money services business, or payment services statutes or regulations could subject us to additional regulation and related expenses and require changes to our business.
  • Adverse tax laws or regulations could be enacted or existing laws could be applied to us or our clients, which could increase the costs of our solution and applications and could adversely affect our business, operating results or financial condition.
  • Compliance with employment-related laws and regulations could increase our cost of doing business and violations of such laws and regulations could subject us to fines and lawsuits.
  • Our background check business is subject to significant governmental regulation, and changes in law or regulation, or a failure to correctly identify, interpret, comply with and reconcile the laws and regulations to which it is subject, could materially adversely affect our revenue or profitability.
  • Industry and Financial Risks
  • Our financial results may fluctuate due to many factors, some of which may be beyond our control.
  • Certain of our operating results and financial metrics may be difficult to predict as a result of seasonality.
  • We are subject to certain operating and financial covenants that may restrict our business and financing activities and may adversely affect our cash flow and our ability to operate our business.
  • If we are unable to maintain effective internal control over financial reporting, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our common stock may be negatively affected.
  • Our actual operating results may differ significantly from our guidance.
  • Risks Related to Ownership of Our Securities
  • The issuance of additional stock in connection with acquisitions, our stock incentive plans, warrants or otherwise will dilute all other stockholders.
  • Anti-takeover provisions in our charter documents and Delaware law may delay or prevent an acquisition of our company.
  • Our certificate of incorporation contains an exclusive forum provision that may discourage lawsuits against us and our directors and officers.
  • We may not continue to pay dividends at the same rate or at all.
  • General Risks
  • Adverse economic and market conditions could affect our business, operating results or financial condition.

Legal proceedings

From time to time, we are involved in various disputes, claims, suits, investigations and legal proceedings arising in the ordinary course of business, including commercial, intellectual property and employment-related matters, as well as stockholder derivative actions, class action lawsuits and other matters. The litigation matters described below involve issues or claims that may be of particular interest to our stockholders, regardless of whether any of these matters are material to our business or financial condition based upon the standard set forth in the SEC’s rules. We believe we have substantial defenses in each matter, and we intend to vigorously defend against the claims brought by plaintiffs in these lawsuits.

Between November 2023 and January 2024, Company stockholders filed four federal securities lawsuits against the Company, Chad Richison, and Craig Boelte (the “Defendants”). On April 23, 2024, the United States District Court for the Western District of Oklahoma (the “Western District Court”) consolidated three of these lawsuits (styled Ventrillo, et al. v. Paycom Software, Inc., et al., Case No. 5:23-cv-01019-F; Caloto, et al. v. Paycom Software, Inc., et al., Case No. 5:24-cv-00019-F; and Minarik, et al. v. Paycom Software, Inc., et al., Case No. 5:24-cv-00014-F) and dismissed for procedural reasons the fourth complaint (styled Schoenrock, et al. v. Paycom Software, Inc., et al., Case No. 5:24-cv-00012-F). The consolidated action is styled In re Paycom Software, Inc. Securities Litigation, Case No. 5:23-cv-01019-F (the “Consolidated Securities Class Action”).

The opening of Item 3, Legal Proceedings.18

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