Paychex, Inc.
US ˙ NasdaqGS ˙ US7043261079

SecurityPAYX / Paychex, Inc.
InstitutionCommerce Bank
Latest Disclosed Ownership78,856 shares
Latest Disclosed Value $ 7,264,214
Commerce Bank reports 9.88% decrease in ownership of PAYX / Paychex, Inc.

On May 11, 2026 - Commerce Bank filed a 13F-HR form disclosing ownership of 78,856 shares of Paychex, Inc. (US:PAYX) valued at $7,264,215 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 87,502 shares of Paychex, Inc.. This represents a change in shares of -9.88% during the quarter. The current value of the position is $7,763,373 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-11 2026-03-31 13F PAYCHEX COM 704326107 78,856 -8,646 -9.88 7,264 -25.99 0.0150
2026-02-13 2025-12-31 13F PAYCHEX COM 704326107 87,502 -1,855 -2.08 9,816 -13.34 0.0542
2025-11-12 2025-09-30 13F PAYCHEX COM 704326107 89,357 -873 -0.97 11,327 -13.70 0.0630
2025-08-07 2025-06-30 13F PAYCHEX COM 704326107 90,230 -2,338 -2.53 13,125 -8.10 0.0775
2025-05-08 2025-03-31 13F PAYCHEX COM 704326107 92,568 -3,255 -3.40 14,281 6.29 0.0912
2025-02-13 2024-12-31 13F PAYCHEX COM 704326107 95,823 -366 -0.38 13,436 4.10 0.0828
2024-11-08 2024-09-30 13F PAYCHEX COM 704326107 96,189 -4,511 -4.48 12,908 8.12 0.0791
2024-08-12 2024-06-30 13F PAYCHEX COM 704326107 100,700 -5,945 -5.57 11,939 -8.84 0.0773
2024-05-03 2024-03-31 13F PAYCHEX COM 704326107 106,645 1,345 1.28 13,096 4.42 0.0866
2024-02-09 2023-12-31 13F PAYCHEX COM 704326107 105,300 -6,932 -6.18 12,542 -3.10 0.0892
2023-11-14 2023-09-30 13F PAYCHEX COM 704326107 112,232 -4,093 -3.52 12,944 -0.54 0.1019
2023-08-08 2023-06-30 13F PAYCHEX COM 704326107 116,325 -74,077 -38.91 13,013 -40.36 0.0974
2023-05-04 2023-03-31 13F PAYCHEX COM 704326107 190,402 3,506 1.88 21,818 1.02 0.1710
2023-02-10 2022-12-31 13F PAYCHEX COM 704326107 186,896 -850 -0.45 21,598 2.52 0.1755
2022-11-04 2022-09-30 13F PAYCHEX COM 704326107 187,746 -4,314 -2.25 21,067 -3.67 0.1831
2022-08-12 2022-06-30 13F PAYCHEX COM 704326107 192,060 -8,159 -4.08 21,870 -19.96 0.1782
2022-05-09 2022-03-31 13F PAYCHEX COM 704326107 200,219 -3,697 -1.81 27,323 -1.84 0.1872
2022-02-14 2021-12-31 13F PAYCHEX COM 704326107 203,916 -17,878 -8.06 27,834 11.60 0.1820
2021-11-09 2021-09-30 13F PAYCHEX COM 704326107 221,794 -7,092 -3.10 24,940 1.55 0.1764
2021-08-09 2021-06-30 13F PAYCHEX COM 704326107 228,886 -867 -0.38 24,559 9.05 0.1744
2021-05-05 2021-03-31 13F PAYCHEX COM 704326107 229,753 -774 -0.34 22,520 4.84 0.1713
2021-02-09 2020-12-31 13F PAYCHEX COM 704326107 230,527 -12,225 -5.04 21,481 10.93 0.1737
2020-11-06 2020-09-30 13F PAYCHEX COM 704326107 242,752 2,028 0.84 19,365 6.20 0.1751
2020-08-07 2020-06-30 13F PAYCHEX COM 704326107 240,724 -52,999 -18.04 18,234 -1.34 0.1777
2020-05-08 2020-03-31 13F PAYCHEX COM 704326107 293,723 3,042 1.05 18,482 -25.25 0.2238
2020-02-14 2019-12-31 13F PAYCHEX COM 704326107 290,681 1,840 0.64 24,725 3.42 0.2355
2019-11-12 2019-09-30 13F PAYCHEX COM 704326107 288,841 127,122 78.61 23,907 79.64 0.2453
2019-08-07 2019-06-30 13F PAYCHEX COM 704326107 161,719 -6,693 -3.97 13,308 -1.47 0.1493
2019-05-08 2019-03-31 13F PAYCHEX COM 704326107 168,412 -2,015 -1.18 13,507 21.65 0.1600
2019-02-11 2018-12-31 13F PAYCHEX COM 704326107 170,427 924 0.55 11,103 -11.06 0.1414
2018-11-02 2018-09-30 13F PAYCHEX COM 704326107 169,503 96 0.06 12,484 7.82 0.1486
2018-08-08 2018-06-30 13F PAYCHEX COM 704326107 169,407 -288 -0.17 11,579 10.79 0.1471
2018-05-03 2018-03-31 13F PAYCHEX COM 704326107 169,695 10,159 6.37 10,451 -3.78 0.1379
2018-02-12 2017-12-31 13F PAYCHEX COM 704326107 159,536 -2,388 -1.47 10,862 11.88 0.1414
2017-11-07 2017-09-30 13F/A-1 PAYCHEX COM 704326107 161,924 -1,843 -1.13 9,709 4.12 0.1319
2017-11-07 2017-09-30 13F PAYCHEX COM 704326107 163,767 9,325
2017-08-08 2017-06-30 13F PAYCHEX COM 704326107 163,767 52 0.03 9,325 -3.30 0.1308
2017-05-05 2017-03-31 13F PAYCHEX COM 704326107 163,715 2,159 1.34 9,643 -1.96 0.1375
2017-02-08 2016-12-31 13F PAYCHEX COM 704326107 161,556 492 0.31 9,836 5.54 0.1468
2016-11-03 2016-09-30 13F PAYCHEX COM 704326107 161,064 -10,915 -6.35 9,320 -8.91 0.1451
2016-08-09 2016-06-30 13F PAYCHEX COM 704326107 171,979 1,148 0.67 10,232 10.90 0.1618
2016-04-27 2016-03-31 13F PAYCHEX COM 704326107 170,831 3,085 1.84 9,226 3.99 0.1532
2016-02-12 2015-12-31 13F PAYCHEX COM 704326107 167,746 -10,404 -5.84 8,872 4.56 0.1485
2015-11-10 2015-09-30 13F PAYCHEX COM 704326107 178,150 -4,520 -2.47 8,485 -0.91 0.1459
2015-08-03 2015-06-30 13F PAYCHEX COM 704326107 182,670 -5,909 -3.13 8,563 -8.48 0.1341
2015-05-06 2015-03-31 13F PAYCHEX COM 704326107 188,579 -57,754 -23.45 9,356 -17.74 0.1454
2015-02-11 2014-12-31 13F PAYCHEX COM 704326107 246,333 -99,628 -28.80 11,374 -25.62 0.1798
2014-11-06 2014-09-30 13F PAYCHEX COM 704326107 345,961 5,364 1.57 15,292 8.02 0.2524
2014-08-05 2014-06-30 13F PAYCHEX COM 704326107 340,597 13,799 4.22 14,156 1.68 0.2313
2014-05-09 2014-03-31 13F PAYCHEX COM 704326107 326,798 16,950 5.47 13,922 -1.31 0.2370
2014-02-14 2013-12-31 13F PAYCHEX COM 704326107 309,848 11,620 3.90 14,107 16.39 0.2443
2013-11-05 2013-09-30 13F/A-1 PAYCHEX COM 704326107 250,403 -14,634 10,440 0.1883
2013-11-05 2013-09-30 13F/A-2 PAYCHEX COM 704326107 298,228 33,191 12.52 12,120 25.25 0.2186
2013-11-04 2013-09-30 13F PAYCHEX COM 704326107 250,403 10,440
2013-08-07 2013-06-30 13F PAYCHEX COM 704326107 265,037 39,202 17.36 9,677 22.22 0.1799
2013-08-08 2013-03-31 13F/A-1 PAYCHEX COM 704326107 225,835 225,835 7,918 0.1545
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.