PAYCHEX INC

Ticker: PAYX CUSIP: 704326107 Class: COM

ADVISORS MANAGEMENT GROUP INC /ADV's Holding History (CIK: 0000842766)

Note: Option positions (PUT/CALL) are excluded.

Q4 2016

Shares 43,454 Value ($000) $2,645 Avg Close $43.92 Range $40.33 - $47.52

Q3 2016

Shares 43,853 Value ($000) $2,538 Avg Close $45.34 Range $43.20 - $46.70

Q2 2016

Shares 44,395 Value ($000) $2,641 Avg Close $40.17 Range $38.40 - $44.78

Q1 2016

Shares 44,959 Value ($000) $2,429 Avg Close $37.48 Range $33.83 - $40.71

Q4 2015

Shares 44,674 Value ($000) $2,363 Avg Close $38.55 Range $34.02 - $40.50

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	43,454	$2,645	$43.92	$40.33 - $47.52
Q3 2016	43,853	$2,538	$45.34	$43.20 - $46.70
Q2 2016	44,395	$2,641	$40.17	$38.40 - $44.78
Q1 2016	44,959	$2,429	$37.48	$33.83 - $40.71
Q4 2015	44,674	$2,363	$38.55	$34.02 - $40.50