Paylocity price target lowered to $186 from $197 at KeyBanc

KeyBanc lowered the firm’s price target on Paylocity to $186 from $197 and keeps an Overweight rating on the shares. Paylocity posted Q2 revenue mostly in line, and EBITDA solidly above consensus, the analyst tells investors in a research note. The firm remains optimistic on Paylocity’s ability to execute and improve profitability as it focuses on up-market penetration.