Eagle Asset Management Inc. Sells 87,027 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Eagle Asset Management Inc. lowered its stake in TechTarget, Inc. (NASDAQ:TTGT) by 18.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,705 shares of the information services provider’s stock after selling 87,027 shares during the quarter. Eagle Asset Management Inc. owned about 1.32% of TechTarget worth $9,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Sei Investments Co. lifted its holdings in TechTarget by 4.6% during the first quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock valued at $1,087,000 after purchasing an additional 1,432 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of TechTarget by 37.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock valued at $370,000 after buying an additional 2,790 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in TechTarget by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after purchasing an additional 959 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of TechTarget by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 63,474 shares of the information services provider’s stock valued at $1,978,000 after purchasing an additional 46,475 shares during the last quarter. Finally, Riverwater Partners LLC purchased a new position in shares of TechTarget during the second quarter valued at about $350,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Stock Up 4.8 %

Shares of TTGT opened at $32.44 on Friday. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The business has a fifty day moving average of $27.33 and a 200 day moving average of $28.73. The company has a market cap of $948.55 million, a PE ratio of -77.24, a P/E/G ratio of 17.47 and a beta of 1.03. TechTarget, Inc. has a 52-week low of $22.82 and a 52-week high of $41.93.

TechTarget (NASDAQ:TTGT) last released its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. During the same quarter last year, the business earned $0.13 EPS. The business’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that TechTarget, Inc. will post 0.55 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on TTGT shares. KeyCorp decreased their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. Raymond James reduced their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, Craig Hallum increased their price objective on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, TechTarget presently has an average rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Profile

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.