Paylocity price target raised to $187 from $182 at KeyBanc

KeyBanc raised the firm’s price target on Paylocity (PCTY) to $187 from $182 and keeps an Overweight rating on the shares ahead of the Q3 earnings report on October 30. The firm believes the overall macro and employment backdrop has remained largely consistent, if not slightly better, vs. last quarter, though still muted, and KeyBanc sees the potential for estimates upside, the analyst tells investors in a research note.