PAYCHEX INC

Ticker: PAYX CUSIP: 704326107 Class: COM

NICHOLAS COMPANY, INC.'s Holding History (CIK: 0000903949)

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

Q1 2016

Shares 56,475 Value ($000) $3,050 Avg Close $37.48 Range $33.83 - $40.71

Q4 2015

Shares 136,500 Value ($000) $7,219 Avg Close $38.55 Range $34.02 - $40.50

Q3 2015

Shares 138,500 Value ($000) $6,596 Avg Close $34.10 Range $30.50 - $35.69

Q2 2015

Shares 147,100 Value ($000) $6,896 Avg Close $35.43 Range $33.81 - $36.83

Q1 2015

Shares 147,100 Value ($000) $7,298 Avg Close $34.95 Range $32.10 - $37.30

Q4 2014

Shares 147,115 Value ($000) $6,792 Avg Close $32.95 Range $29.84 - $34.48

Q3 2014

Shares 147,115 Value ($000) $6,502 Avg Close $29.74 Range $28.45 - $31.56

Q2 2014

Shares 147,115 Value ($000) $6,114 Avg Close $28.79 Range $27.74 - $30.17

Q1 2014

Shares 147,115 Value ($000) $6,267 Avg Close $29.49 Range $27.78 - $31.75

Q4 2013

Shares 147,000 Value ($000) $6,692 Avg Close $29.42 Range $26.88 - $31.75

Q3 2013

Shares 147,000 Value ($000) $5,974 Avg Close $27.01 Range $24.67 - $28.27

Q2 2013

Shares 147,650 Value ($000) $5,392 Avg Close $25.02 Range $23.54 - $26.26

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	56,475	$3,050	$37.48	$33.83 - $40.71
Q4 2015	136,500	$7,219	$38.55	$34.02 - $40.50
Q3 2015	138,500	$6,596	$34.10	$30.50 - $35.69
Q2 2015	147,100	$6,896	$35.43	$33.81 - $36.83
Q1 2015	147,100	$7,298	$34.95	$32.10 - $37.30
Q4 2014	147,115	$6,792	$32.95	$29.84 - $34.48
Q3 2014	147,115	$6,502	$29.74	$28.45 - $31.56
Q2 2014	147,115	$6,114	$28.79	$27.74 - $30.17
Q1 2014	147,115	$6,267	$29.49	$27.78 - $31.75
Q4 2013	147,000	$6,692	$29.42	$26.88 - $31.75
Q3 2013	147,000	$5,974	$27.01	$24.67 - $28.27
Q2 2013	147,650	$5,392	$25.02	$23.54 - $26.26