TD Cowen lowered the firm’s price target on Paylocity (PCTY) to $172 from $192 and keeps a Buy rating on the shares. The firm said they posted a healthy 1Q beat and FY26 ex float midpoints raised above expectations. They anticipate shares to react modestly positive to the guidance update, upside to FCF from OBBA, stability in macro and demand environment, and it likely staying active on share repo.
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Read More on PCTY:
- Paylocity price target lowered to $190 from $215 at Cantor Fitzgerald
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- Paylocity price target lowered to $185 from $200 at BMO Capital
- Paylocity’s Strong Performance and Growth Potential Justify Buy Rating
- Balanced Outlook for Paylocity: Strong Q1 Results and Long-term Targets Amid Growth Challenges