Amiral Gestion Nearly Triples Paycom Software Shares in Q3
Key Points
Amiral Gestion added nearly 54,000 shares in Paycom Software.
The stock now represents 6.2% of the asset management firm's 13F reportable assets under management (AUM) as of Sept. 30, 2025.
The additional shares move Paycom just outside the fund’s top five holdings.
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On Oct. 9, 2025, Amiral Gestion disclosed it had nearly tripled its position in Paycom (NYSE:PAYC), acquiring about 54,000 shares in an estimated $11 million trade for the quarter ended Sept. 30, 2025.
What happened
According to a recent SEC filing dated Oct. 9, 2025, Amiral Gestion added to its stake in Paycom by acquiring 53,787 shares. The trade is estimated at $11 million. The holding now represents 6.2% of the fund’s reportable U.S. equity assets as of Sept.30, 2025.
What else to know
This is not a new position, but it nearly tripled its stake. Paycom now accounts for 6.2% of Amiral Gestion's 13F assets as of the end of Q3. That puts its stake just outside the fund’s top five holdings.
Top holdings after the filing:
- Adobe: $43.8 million (15.9% of AUM)
- Microsoft: $39.7 million (14.4% of AUM)
- Paypal: $28.1 million (10.2% of AUM)
- Edwards Lifesciences: $22 million (8.0% of AUM)
- Meta Platforms: $20.6 million (7.5% of AUM)
As of Oct. 8, 2025, Paycom shares were priced at $205.08, up 28.2% over the year ending Oct. 8, 2025, outperforming the S&P 500 by 7.6 percentage points over the same period.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close October 8, 2025) | $205.08 |
| Market Capitalization | $11.54 billion |
| Revenue (TTM) | $1.96 billion |
| Net Income (TTM) | $415.78 million |
Company Snapshot
Paycom provides a comprehensive cloud-based human capital management (HCM) platform, including payroll, talent acquisition, time and labor management, benefits administration, and compliance solutions.
The company operates a software-as-a-service (SaaS) business model for its integrated HCM suite. It targets small to mid-sized businesses in the United States seeking scalable, unified human resources (HR), and payroll solutions.
Paycom is a leading provider of cloud-based HCM solutions serving over 7,300 employees and a broad base of small to mid-sized enterprises. The company uses a unified SaaS platform to streamline HR, payroll, and compliance processes.
Foolish take
The share purchases by Amiral Gestion show a strong conviction in Paycom Software stock. The asset management company may be looking at Paycom's growing revenue, and an opportunity in the stock.
While trailing-12-month (TTM) revenue is up 4%, Paycom shares have declined by over 12% since the start of the third quarter. That could be a well-timed purchase as the U.S. economy accelerates growth and businesses use more of Paycom's services.
Glossary
Stake: The amount of ownership or investment a fund or individual holds in a company.
13F reportable assets: U.S. securities that institutional investment managers must disclose quarterly to the Securities and Exchange Commission (SEC) on Form 13F.
Assets under management (AUM): The total market value of investments managed by a fund or financial institution.
Top holdings: The largest investments in a fund's portfolio, typically ranked by market value.
Human capital management (HCM): Software or systems for managing employee-related functions like payroll, hiring, and benefits.
Software-as-a-service (SaaS): A business model delivering software over the internet, typically via subscription.
Unified platform: A single, integrated software system that combines multiple functions or services.
Compliance solutions: Tools or services that help companies follow laws and regulations.
TTM: The 12-month period ending with the most recent quarterly report.
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Howard Smith has positions in Microsoft. The Motley Fool has positions in and recommends Adobe, Edwards Lifesciences, Meta Platforms, Microsoft, PayPal, and Paycom Software. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft, long January 2027 $42.50 calls on PayPal, short December 2025 $75 calls on PayPal, and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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