Paylocity price target lowered to $235 from $255 at Jefferies

Jefferies lowered the firm’s price target on Paylocity (PCTY) to $235 from $255 and keeps a Buy rating on the shares. A third “solid” quarter in a row shows Paylocity’s business has “stabilized at a healthy, durable growth level,” the analyst tells investors. Management increased the FY25 recurring and other revenue guidance by more than the fiscal Q3 beat, signaling macro remains largely stable, the analyst added.