Paylocity price target lowered to $220 from $245 at Baird

Core Viewpoint - Baird has lowered the price target for Paylocity (PCTY) to $220 from $245 while maintaining an Outperform rating on the shares, indicating a positive outlook despite the price adjustment [1] Summary by Category Price Target Adjustment - The price target for Paylocity has been reduced to $220 from $245 [1] Rating - Baird continues to hold an Outperform rating on Paylocity shares, suggesting confidence in the company's performance [1] Financial Performance - The model update by Baird follows results that demonstrated significant improvements in margins and free cash flow for Paylocity [1]