Paylocity price target raised to $255 from $240 at Jefferies

Jefferies raised the firm’s price target on Paylocity (PCTY) to $255 from $240 and keeps a Buy rating on the shares after Q2 total revenue beat consensus by 3% and management increased FY25 recurring and other revenue guidance by more than the Q2 beat. The Q3 EBITDA guidance and outlook for FY25 were also better than expected, the analyst tells investors.