Paylocity price target raised to $214 from $180 at Barclays

Barclays raised the firm’s price target on Paylocity (PCTY) to $214 from $180 and keeps an Equal Weight rating on the shares. With software “back in favor again,” valuation levels have now caught up to historical averages, the analyst tells investors in a research note. However, the firm says there could be further upside as estimates have not moved higher yet and as base valuations shift out another year to 2026.