Paylocity price target raised to $209 from $204 at Barclays

Barclays raised the firm’s price target on Paylocity (PCTY) to $209 from $204 and keeps an Equal Weight rating on the shares following the fiscal Q3 report. Expectations were not overly high but Paylocity delivered a larger beat than usual and again raised both the top and bottom-line guides by more than the quarterly beat levels, the analyst tells investors in a research note. Given the uncertain environment, the firm expects the results to be viewed favorably.