Capital International Investors discloses 8.6% stake in Paychex (PAYX)

Rhea-AI Filing Summary

Capital International Investors filed an amended Schedule 13G reporting a large passive stake in Paychex, Inc. common stock. It is deemed the beneficial owner of 30,738,102 shares, representing 8.6% of the 358,967,450 shares believed outstanding.

The firm has sole voting power over 30,207,263 shares and sole dispositive power over 30,738,102 shares, with no shared voting or dispositive power. The filing states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Paychex.

Insights

Institutional ownership analyst

Large passive holder discloses 8.6% Paychex stake.

Capital International Investors reports beneficial ownership of 30,738,102 Paychex shares, or 8.6% of the 358,967,450 shares believed outstanding. This confirms Paychex has a significant institutional shareholder with sole voting and dispositive power over most of the position.

The certification that the stake is held in the ordinary course of business and not to influence control characterizes this as a passive, long-only style holding rather than an activist position. Actual market impact depends on future portfolio decisions, which are not addressed here.

The filing date of 02/12/2026 anchors when these ownership levels were last reported. Subsequent filings would be needed to track any material changes in Capital International Investors’ percentage ownership or voting power in Paychex.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Paychex, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

704326107

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 704326107

1

Names of Reporting Persons

Capital International Investors

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 30,207,263.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 30,738,102.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

30,738,102.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Paychex, Inc.
(b)	Address of issuer's principal executive offices: 911 PANORAMA TRAIL SOUTH, ROCHESTER, NY 14625-0397
Item 2.
(a)	Name of person filing: Capital International Investors
(b)	Address or principal business office or, if none, residence: 333 South Hope Street, 55th Fl, Los Angeles, CA 90071
(c)	Citizenship: N/A
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 704326107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 30,738,102 ** **Capital International Investors ("CII") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CII's divisions of each of the investment management entities collectively provide investment management services under the name "Capital International Investors." CII is deemed to be the beneficial owner of 30,738,102 shares or 8.6% of the 358,967,450 shares believed to be outstanding.
(b)	Percent of class: 8.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 30,207,263
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 30,738,102
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Capital International Investors

Signature:	Jae Won Chung
Name/Title:	Vice President and Senior Counsel II, Capital Research and Management Company
Date:	02/12/2026

FAQ

How many Paychex (PAYX) shares does Capital International Investors own?

Capital International Investors is deemed to beneficially own 30,738,102 Paychex common shares. This represents a sizable institutional position and reflects holdings managed across several affiliated investment management entities operating under the Capital International Investors name.

What percentage of Paychex (PAYX) does Capital International Investors hold?

Capital International Investors reports holding 8.6% of Paychex’s common stock. The percentage is based on 358,967,450 shares believed to be outstanding, indicating a significant but passive institutional ownership stake in the company.

Does Capital International Investors have voting control over its Paychex (PAYX) shares?

Capital International Investors has sole voting power over 30,207,263 Paychex shares and no shared voting power. It also has sole dispositive power over 30,738,102 shares, giving it unilateral authority to vote and dispose of these holdings.

Is Capital International Investors an activist in Paychex (PAYX)?

The filing states the Paychex shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control. This characterizes Capital International Investors as a passive institutional holder rather than an activist investor in Paychex.

Why did Capital International Investors file an amended Schedule 13G for Paychex (PAYX)?

Capital International Investors filed Amendment No. 4 to Schedule 13G because its beneficial ownership in Paychex exceeded 5%. The amendment updates market participants on its current 30,738,102-share, 8.6% ownership position as of the reported date.

Who signed the Paychex (PAYX) Schedule 13G/A for Capital International Investors?

The Schedule 13G/A was signed by Jae Won Chung, identified as Vice President and Senior Counsel II of Capital Research and Management Company. The signature certifies that the reported Paychex holdings and related information are true, complete, and correct.