A competitor of Paychex, among others, Paycom is a specialist in human resources management software. Recently, the slowdown in its once spectacular growth has been harshly punished by the market.

Is there a tendency to overdramatize? Paycom's valuation has fallen to just x12 EBITDA, compared with a ten-year average of x59 EBITDA.

The same is true of the valuation as a multiple of sales, currently at x4.5 sales, compared with a ten-year average of x15 sales.

Despite a track record of uncommon growth - on average, sales have risen by 31% a year since 2014, and earnings per share by 57% a year over the period - the Oklahoma-based company has thus gone from "star" to pariah status.

At the root of this setback: a seemingly botched product launch - but one in the process of being corrected - which would explain the sudden slowdown in sales; as well as, possibly, the sometimes abrupt personality of charismatic founder and CEO Chad Richison.

The former wrestler, it's true, doesn't have a reputation for playing rough. For the record, once appointed co-CEO, his previous right-hand man only lasted three months in the post before being fired.

Paycom's plummeting stock market is a major blow for Richison. Richison had received a package of 1.6 million options, half with a strike of $1,000 per share, the other half with a strike of $1,750 per share.

Last night, the stock closed at $145.