Paylocity price target raised to $225 from $220 at KeyBanc

KeyBanc raised the firm’s price target on Paylocity (PCTY) to $225 from $220 and keeps an Overweight rating on the shares. The firm notes Paylocity posted solid Q4 results, beating handily on the top and bottom line, and grew its client base by 7% for the full year. While initial FY26 guidance came in slightly below the Street, KeyBanc believes management appropriately telegraphed potential conservatism heading into the print, and the outlook will be viewed as better than feared.