On Oct. 9, 2025, Amiral Gestion disclosed it had nearly tripled its position in Paycom (PAYC -1.20%), 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.
