Paylocity price target lowered to $170 from $245 at Citizens

Citizens analyst Patrick Walravens lowered the firm’s price target on Paylocity (PCTY) to $170 from $245 and keeps an Outperform rating on the shares. Paylocity beat Q2 expectations across EPS, revenue, and margins and guided mostly above consensus, but decelerating growth rates and ongoing concerns around AI disruption and workforce trends weighed on the stock, the analyst tells investors in a research note. Despite near-term skepticism, the results highlight solid execution, strong profitability, and longer-term upside driven by product innovation, CFO-focused expansion, and a large addressable market, Citizens argues.