Paylocity price target raised to $225 from $195 at Wolfe Research

Wolfe Research raised the firm’s price target on Paylocity (PCTY) to $225 from $195 and keeps an Outperform rating on the shares. In a research note partly titled “2025 Software Year Ahead,” the firm says it hasn’t been this excited and inspired for the sector in “a LONG time,” and thinks that the combination of improving fundamentals, easing regulatory environment, secular AI tailwinds, and open for business capital markets makes this “an amazing time to not only be alive, but also cover software stocks.”