Paylocity price target raised to $270 from $250 at JMP Securities

JMP Securities raised the firm’s price target on Paylocity (PCTY) to $270 from $250 and keeps an Outperform rating on the shares. Paylocity reported better than expected Q2 results and guidance, reflecting good sales momentum and a macro that feels stable, the analyst tells investors in a research note. The firm views Paylocity as an attractive opportunity for long-term capital appreciation.