PAYCHEX INC

Ticker: PAYX CUSIP: 704326107 Class: COM

Mount Lucas Management LP's Holding History (CIK: 0001185072)

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

Q1 2020

Shares 25,080 Value ($000) $1,578 Avg Close $67.41 Range $40.50 - $76.59

Q4 2019

Shares 18,565 Value ($000) $1,579 Avg Close $70.68 Range $66.71 - $73.78

Q3 2019

Shares 25,312 Value ($000) $2,095 Avg Close $69.13 Range $65.71 - $71.95

Q2 2019

Shares 27,203 Value ($000) $2,239 Avg Close $69.57 Range $65.71 - $73.20

Q1 2019

Shares 27,562 Value ($000) $2,210 Avg Close $60.45 Range $51.63 - $66.34

Q2 2017

Shares 37,694 Value ($000) $2,146 Avg Close $45.43 Range $43.85 - $47.78

Q1 2017

Shares 37,485 Value ($000) $2,208 Avg Close $46.69 Range $43.94 - $48.53

Q4 2016

Shares 42,021 Value ($000) $2,558 Avg Close $43.92 Range $40.33 - $47.52

Q3 2016

Shares 49,651 Value ($000) $2,873 Avg Close $45.34 Range $43.20 - $46.70

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	25,080	$1,578	$67.41	$40.50 - $76.59
Q4 2019	18,565	$1,579	$70.68	$66.71 - $73.78
Q3 2019	25,312	$2,095	$69.13	$65.71 - $71.95
Q2 2019	27,203	$2,239	$69.57	$65.71 - $73.20
Q1 2019	27,562	$2,210	$60.45	$51.63 - $66.34
Q2 2017	37,694	$2,146	$45.43	$43.85 - $47.78
Q1 2017	37,485	$2,208	$46.69	$43.94 - $48.53
Q4 2016	42,021	$2,558	$43.92	$40.33 - $47.52
Q3 2016	49,651	$2,873	$45.34	$43.20 - $46.70