Laurie L. Zaucha

PAYX

VICE PRESIDENT · PAYCHEX INC · CIK 0001429624

FILING MIX · LIFETIME50%/50%

BUYS

SELLS

TOTAL VALUE

$4.77M

COMPANIES

ACTIVE SINCE

Jan 2020

HOLDINGS NOW

53,717

AVG SELL PX

$86.05

Trades · vs SPY

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Performance · forward returns vs SPY

3 backtested trades · 8 horizons

Forward-return performance of every backtestable P/S trade by Laurie L. Zaucha, measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	3	+66.67%	-1.55%	-0.52%	-1.03%	-1.02%	—
14d	3	+100.00%	-1.21%	+0.65%	-1.86%	-1.51%	—
30d	3	+0.00%	+0.85%	+2.31%	-1.46%	-0.55%	—
60d	3	+66.67%	-28.16%	-19.91%	-8.26%	-11.04%	—
90d	3	+66.67%	-14.38%	-8.51%	-5.87%	-10.93%	—
180d	3	+66.67%	-2.35%	+5.46%	-7.81%	-15.60%	—
1y	3	+0.00%	+19.77%	+25.15%	-5.38%	-17.11%	—
2y	3	+0.00%	+49.33%	+32.48%	+16.84%	+3.91%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

PAYX · 53,717 shares · as of Jul 15, 2020

Trading cadence · quarterly flow

BUY ● SELL ●

2020

FLOW · 6 buys / 6 sellsCOVERAGE · 3 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED
PAYX PAYCHEX INC	PURCHASEGRANT Stock grant	20,944	$73.53	$1.54M	20,944	Jul 15, 2020	Jul 17, 2020 ↗
PAYX PAYCHEX INC	PURCHASEGRANT Stock grant	5,761	—	—	53,717	Jul 15, 2020	Jul 17, 2020 ↗
PAYX PAYCHEX INC	PURCHASEGRANT Stock grant	4,152	—	—	47,956	Jul 11, 2020	Jul 14, 2020 ↗
PAYX PAYCHEX INC	SALE Vice President	17,726	—	—	58,926	Jul 10, 2020	Jul 14, 2020 ↗
PAYX PAYCHEX INC	PURCHASEGRANT Stock grant	7,217	—	—	49,443	Jul 10, 2020	Jul 14, 2020 ↗
PAYX PAYCHEX INC	SALE Vice President	5,639	$73.30	$413.3K	43,804	Jul 10, 2020	Jul 14, 2020 ↗
PAYX PAYCHEX INC	SALE Vice President	5,860	—	—	0	Jan 22, 2020	Jan 23, 2020 ↗
PAYX PAYCHEX INC	PURCHASE Vice President	13,719	$57.24	$785.3K	55,945	Jan 22, 2020	Jan 23, 2020 ↗
PAYX PAYCHEX INC	SALE Vice President	13,719	$89.72	$1.23M	42,226	Jan 22, 2020	Jan 23, 2020 ↗
PAYX PAYCHEX INC	SALE Vice President	13,719	—	—	6,860	Jan 22, 2020	Jan 23, 2020 ↗
PAYX PAYCHEX INC	PURCHASE Vice President	5,860	$47.32	$277.3K	48,086	Jan 22, 2020	Jan 23, 2020 ↗
PAYX PAYCHEX INC	SALE Vice President	5,860	$89.72	$525.8K	42,226	Jan 22, 2020	Jan 23, 2020 ↗

Other insiders · PAYX

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About this filer

CIK 0001429624

ROLE

Vice President

PRIMARY

PAYX

COMPANIES

ACTIVE SINCE

Jan 2020

MARKETPEEL · /INSIDER/0001429624DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

Laurie L. Zaucha

The morning brief, before the bell.