PAYCHEX INC

Ticker: PAYX CUSIP: 704326107 Class: COM

GAM Holding AG's Holding History (CIK: 0001438848)

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

Q4 2019

Shares 3,953 Value ($000) $336 Avg Close $70.68 Range $66.71 - $73.78

Q3 2019

Shares 10,508 Value ($000) $870 Avg Close $69.13 Range $65.71 - $71.95

Q2 2019

Shares 23,893 Value ($000) $1,966 Avg Close $69.57 Range $65.71 - $73.20

Q1 2019

Shares 22,354 Value ($000) $1,793 Avg Close $60.45 Range $51.63 - $66.34

Q4 2018

Shares 19,396 Value ($000) $1,263 Avg Close $55.05 Range $49.99 - $61.44

Q3 2018

Shares 22,763 Value ($000) $1,676 Avg Close $57.93 Range $53.90 - $61.20

Q2 2018

Shares 13,657 Value ($000) $934 Avg Close $51.54 Range $47.31 - $56.42

Q1 2018

Shares 4,469 Value ($000) $275 Avg Close $52.37 Range $47.16 - $57.65

Q4 2017

Shares 16,610 Value ($000) $1,131 Avg Close $51.63 Range $46.43 - $55.51

Q2 2017

Shares 126,807 Value ($000) $7,220 Avg Close $45.43 Range $43.85 - $47.78

Q1 2017

Shares 130,844 Value ($000) $7,707 Avg Close $46.69 Range $43.94 - $48.53

Q4 2016

Shares 51,371 Value ($000) $3,127 Avg Close $43.92 Range $40.33 - $47.52

Q3 2016

Shares 79,573 Value ($000) $4,605 Avg Close $45.34 Range $43.20 - $46.70

Q2 2016

Shares 79,573 Value ($000) $4,735 Avg Close $40.17 Range $38.40 - $44.78

Q1 2016

Shares 68,104 Value ($000) $3,678 Avg Close $37.48 Range $33.83 - $40.71

Q4 2015

Shares 67,409 Value ($000) $3,565 Avg Close $38.55 Range $34.02 - $40.50

Q3 2015

Shares 53,664 Value ($000) $2,556 Avg Close $34.10 Range $30.50 - $35.69

Q2 2015

Shares 53,035 Value ($000) $2,486 Avg Close $35.43 Range $33.81 - $36.83

Q1 2015

Shares 40,850 Value ($000) $2,027 Avg Close $34.95 Range $32.10 - $37.30

Q4 2014

Shares 40,250 Value ($000) $1,858 Avg Close $32.95 Range $29.84 - $34.48

Q3 2014

Shares 40,841 Value ($000) $1,805 Avg Close $29.74 Range $28.45 - $31.56

Q2 2014

Shares 20,841 Value ($000) $866 Avg Close $28.79 Range $27.74 - $30.17

Q1 2014

Shares 20,841 Value ($000) $888 Avg Close $29.49 Range $27.78 - $31.75

Q4 2013

Shares 5,300 Value ($000) $241 Avg Close $29.42 Range $26.88 - $31.75

Q3 2013

Shares 6,000 Value ($000) $244 Avg Close $27.01 Range $24.67 - $28.27

Q2 2013

Shares 6,000 Value ($000) $219 Avg Close $25.02 Range $23.54 - $26.26

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2019	3,953	$336	$70.68	$66.71 - $73.78
Q3 2019	10,508	$870	$69.13	$65.71 - $71.95
Q2 2019	23,893	$1,966	$69.57	$65.71 - $73.20
Q1 2019	22,354	$1,793	$60.45	$51.63 - $66.34
Q4 2018	19,396	$1,263	$55.05	$49.99 - $61.44
Q3 2018	22,763	$1,676	$57.93	$53.90 - $61.20
Q2 2018	13,657	$934	$51.54	$47.31 - $56.42
Q1 2018	4,469	$275	$52.37	$47.16 - $57.65
Q4 2017	16,610	$1,131	$51.63	$46.43 - $55.51
Q2 2017	126,807	$7,220	$45.43	$43.85 - $47.78
Q1 2017	130,844	$7,707	$46.69	$43.94 - $48.53
Q4 2016	51,371	$3,127	$43.92	$40.33 - $47.52
Q3 2016	79,573	$4,605	$45.34	$43.20 - $46.70
Q2 2016	79,573	$4,735	$40.17	$38.40 - $44.78
Q1 2016	68,104	$3,678	$37.48	$33.83 - $40.71
Q4 2015	67,409	$3,565	$38.55	$34.02 - $40.50
Q3 2015	53,664	$2,556	$34.10	$30.50 - $35.69
Q2 2015	53,035	$2,486	$35.43	$33.81 - $36.83
Q1 2015	40,850	$2,027	$34.95	$32.10 - $37.30
Q4 2014	40,250	$1,858	$32.95	$29.84 - $34.48
Q3 2014	40,841	$1,805	$29.74	$28.45 - $31.56
Q2 2014	20,841	$866	$28.79	$27.74 - $30.17
Q1 2014	20,841	$888	$29.49	$27.78 - $31.75
Q4 2013	5,300	$241	$29.42	$26.88 - $31.75
Q3 2013	6,000	$244	$27.01	$24.67 - $28.27
Q2 2013	6,000	$219	$25.02	$23.54 - $26.26