PAYCHEX INC

Ticker: PAYX CUSIP: 704326107 Class: COM

NAPLES GLOBAL ADVISORS, LLC's Holding History (CIK: 0001582151)

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

Q4 2025

Shares 68,818 Value ($000) $7,720 Avg Close $116.54 Range $108.00 - $128.00

Q3 2025

Shares 61,920 Value ($000) $7,849 Avg Close $137.17 Range $117.88 - $146.69

Q2 2025

Shares 60,683 Value ($000) $8,827 Avg Close $147.52 Range $131.76 - $158.49

Q1 2025

Shares 57,300 Value ($000) $8,840 Avg Close $143.17 Range $130.91 - $154.56

Q4 2024

Shares 57,965 Value ($000) $8,128 Avg Close $137.31 Range $127.32 - $146.13

Q3 2024

Shares 58,280 Value ($000) $7,821 Avg Close $121.91 Range $110.27 - $132.34

Q2 2024

Shares 57,400 Value ($000) $6,805 Avg Close $116.34 Range $108.73 - $122.07

Q1 2024

Shares 56,495 Value ($000) $6,938 Avg Close $114.65 Range $109.88 - $118.72

Q4 2023

Shares 55,781 Value ($000) $6,644 Avg Close $111.08 Range $99.22 - $122.00

Q3 2023

Shares 56,116 Value ($000) $6,472 Avg Close $112.19 Range $102.46 - $120.23

Q2 2023

Shares 55,780 Value ($000) $6,240 Avg Close $101.03 Range $96.32 - $106.39

Q1 2023

Shares 56,865 Value ($000) $6,516 Avg Close $104.30 Range $97.60 - $110.45

Q4 2022

Shares 55,295 Value ($000) $6,390 Avg Close $106.57 Range $95.82 - $116.78

Q3 2022

Shares 56,025 Value ($000) $6,287 Avg Close $112.11 Range $100.21 - $126.48

Q2 2022

Shares 54,950 Value ($000) $6,257 Avg Close $112.87 Range $99.58 - $127.09

Q1 2022

Shares 54,259 Value ($000) $7,405 Avg Close $109.73 Range $98.39 - $125.97

Q4 2021

Shares 54,245 Value ($000) $7,404 Avg Close $109.87 Range $98.59 - $123.71

Q3 2021

Shares 54,430 Value ($000) $6,121 Avg Close $99.29 Range $94.17 - $104.68

Q2 2021

Shares 54,653 Value ($000) $5,864 Avg Close $88.28 Range $81.10 - $95.27

Q1 2021

Shares 53,688 Value ($000) $5,262 Avg Close $80.38 Range $74.08 - $88.33

Q4 2020

Shares 54,698 Value ($000) $5,097 Avg Close $76.93 Range $67.23 - $86.80

Q3 2020

Shares 54,955 Value ($000) $4,384 Avg Close $64.54 Range $59.78 - $69.40

Q2 2020

Shares 52,034 Value ($000) $3,942 Avg Close $58.96 Range $49.78 - $68.91

Q1 2020

Shares 49,403 Value ($000) $3,108 Avg Close $67.41 Range $40.50 - $76.59

Q4 2019

Shares 47,838 Value ($000) $4,069 Avg Close $70.68 Range $66.71 - $73.78

Q3 2019

Shares 46,898 Value ($000) $3,882 Avg Close $69.13 Range $65.71 - $71.95

Q2 2019

Shares 47,313 Value ($000) $3,893 Avg Close $69.57 Range $65.71 - $73.20

Q1 2019

Shares 47,638 Value ($000) $3,821 Avg Close $60.45 Range $51.63 - $66.34

Q4 2018

Shares 48,063 Value ($000) $3,240 Avg Close $55.05 Range $49.99 - $61.44

Q3 2018

Shares 44,903 Value ($000) $3,307 Avg Close $57.93 Range $53.90 - $61.20

Q2 2018

Shares 44,767 Value ($000) $3,060 Avg Close $51.54 Range $47.31 - $56.42

Q1 2018

Shares 42,264 Value ($000) $2,603 Avg Close $52.37 Range $47.16 - $57.65

Q4 2017

Shares 36,254 Value ($000) $2,468 Avg Close $51.63 Range $46.43 - $55.51

Q3 2017

Shares 35,789 Value ($000) $2,146 Avg Close $44.58 Range $42.41 - $47.62

Q2 2017

Shares 34,071 Value ($000) $1,940 Avg Close $45.43 Range $43.85 - $47.78

Q1 2017

Shares 32,661 Value ($000) $1,924 Avg Close $46.69 Range $43.94 - $48.53

Q4 2016

Shares 31,961 Value ($000) $1,946 Avg Close $43.92 Range $40.33 - $47.52

Q3 2016

Shares 32,161 Value ($000) $1,861 Avg Close $45.34 Range $43.20 - $46.70

Q2 2016

Shares 32,161 Value ($000) $1,914 Avg Close $40.17 Range $38.40 - $44.78

Q1 2016

Shares 32,711 Value ($000) $1,767 Avg Close $37.48 Range $33.83 - $40.71

Q4 2015

Shares 33,511 Value ($000) $1,772 Avg Close $38.55 Range $34.02 - $40.50

Q3 2015

Shares 33,811 Value ($000) $1,610 Avg Close $34.10 Range $30.50 - $35.69

Q2 2015

Shares 26,167 Value ($000) $1,227 Avg Close $35.43 Range $33.81 - $36.83

Q1 2015

Shares 26,167 Value ($000) $1,298 Avg Close $34.95 Range $32.10 - $37.30

Q4 2014

Shares 25,517 Value ($000) $1,178 Avg Close $32.95 Range $29.84 - $34.48

Q3 2014

Shares 24,341 Value ($000) $1,076 Avg Close $29.74 Range $28.45 - $31.56

Q2 2014

Shares 20,500 Value ($000) $852 Avg Close $28.79 Range $27.74 - $30.17

Q1 2014

Shares 17,975 Value ($000) $766 Avg Close $29.49 Range $27.78 - $31.75

Q4 2013

Shares 17,675 Value ($000) $805 Avg Close $29.42 Range $26.88 - $31.75

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	68,818	$7,720	$116.54	$108.00 - $128.00
Q3 2025	61,920	$7,849	$137.17	$117.88 - $146.69
Q2 2025	60,683	$8,827	$147.52	$131.76 - $158.49
Q1 2025	57,300	$8,840	$143.17	$130.91 - $154.56
Q4 2024	57,965	$8,128	$137.31	$127.32 - $146.13
Q3 2024	58,280	$7,821	$121.91	$110.27 - $132.34
Q2 2024	57,400	$6,805	$116.34	$108.73 - $122.07
Q1 2024	56,495	$6,938	$114.65	$109.88 - $118.72
Q4 2023	55,781	$6,644	$111.08	$99.22 - $122.00
Q3 2023	56,116	$6,472	$112.19	$102.46 - $120.23
Q2 2023	55,780	$6,240	$101.03	$96.32 - $106.39
Q1 2023	56,865	$6,516	$104.30	$97.60 - $110.45
Q4 2022	55,295	$6,390	$106.57	$95.82 - $116.78
Q3 2022	56,025	$6,287	$112.11	$100.21 - $126.48
Q2 2022	54,950	$6,257	$112.87	$99.58 - $127.09
Q1 2022	54,259	$7,405	$109.73	$98.39 - $125.97
Q4 2021	54,245	$7,404	$109.87	$98.59 - $123.71
Q3 2021	54,430	$6,121	$99.29	$94.17 - $104.68
Q2 2021	54,653	$5,864	$88.28	$81.10 - $95.27
Q1 2021	53,688	$5,262	$80.38	$74.08 - $88.33
Q4 2020	54,698	$5,097	$76.93	$67.23 - $86.80
Q3 2020	54,955	$4,384	$64.54	$59.78 - $69.40
Q2 2020	52,034	$3,942	$58.96	$49.78 - $68.91
Q1 2020	49,403	$3,108	$67.41	$40.50 - $76.59
Q4 2019	47,838	$4,069	$70.68	$66.71 - $73.78
Q3 2019	46,898	$3,882	$69.13	$65.71 - $71.95
Q2 2019	47,313	$3,893	$69.57	$65.71 - $73.20
Q1 2019	47,638	$3,821	$60.45	$51.63 - $66.34
Q4 2018	48,063	$3,240	$55.05	$49.99 - $61.44
Q3 2018	44,903	$3,307	$57.93	$53.90 - $61.20
Q2 2018	44,767	$3,060	$51.54	$47.31 - $56.42
Q1 2018	42,264	$2,603	$52.37	$47.16 - $57.65
Q4 2017	36,254	$2,468	$51.63	$46.43 - $55.51
Q3 2017	35,789	$2,146	$44.58	$42.41 - $47.62
Q2 2017	34,071	$1,940	$45.43	$43.85 - $47.78
Q1 2017	32,661	$1,924	$46.69	$43.94 - $48.53
Q4 2016	31,961	$1,946	$43.92	$40.33 - $47.52
Q3 2016	32,161	$1,861	$45.34	$43.20 - $46.70
Q2 2016	32,161	$1,914	$40.17	$38.40 - $44.78
Q1 2016	32,711	$1,767	$37.48	$33.83 - $40.71
Q4 2015	33,511	$1,772	$38.55	$34.02 - $40.50
Q3 2015	33,811	$1,610	$34.10	$30.50 - $35.69
Q2 2015	26,167	$1,227	$35.43	$33.81 - $36.83
Q1 2015	26,167	$1,298	$34.95	$32.10 - $37.30
Q4 2014	25,517	$1,178	$32.95	$29.84 - $34.48
Q3 2014	24,341	$1,076	$29.74	$28.45 - $31.56
Q2 2014	20,500	$852	$28.79	$27.74 - $30.17
Q1 2014	17,975	$766	$29.49	$27.78 - $31.75
Q4 2013	17,675	$805	$29.42	$26.88 - $31.75