Paylocity price target raised to $219 from $211 at Citi

Citi analyst Steven Enders raised the firm’s price target on Paylocity to $219 from $211 and keeps a Neutral rating on the shares after updating estimates and stock preferences following Q1 earnings from the U.S. application software group. The group has seen continued macro pressures, but growth began to rally, driven by stabilizing rates and an emerging AI tailwind, the analyst tells investors in a back office software group recap note.