Raymond James & Associates Trims Stock Holdings in TechTarget, Inc. (NASDAQ:TTGT)

Raymond James & Associates lowered its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,215 shares of the information services provider’s stock after selling 3,345 shares during the quarter. Raymond James & Associates owned 0.07% of TechTarget worth $705,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of TechTarget during the third quarter valued at $465,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of TechTarget in the third quarter valued at approximately $145,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of TechTarget by 28.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,034 shares of the information services provider’s stock worth $426,000 after buying an additional 3,076 shares during the period. Punch & Associates Investment Management Inc. grew its holdings in TechTarget by 2.1% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 221,381 shares of the information services provider’s stock worth $6,721,000 after acquiring an additional 4,449 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of TechTarget by 29.0% during the third quarter. M&T Bank Corp now owns 29,818 shares of the information services provider’s stock valued at $906,000 after purchasing an additional 6,711 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TTGT. Raymond James boosted their target price on shares of TechTarget from $31.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. TheStreet downgraded shares of TechTarget from a “c” rating to a “d+” rating in a research note on Wednesday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of TechTarget in a research report on Thursday, February 8th. KeyCorp lowered their price objective on TechTarget from $58.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. Finally, UBS Group raised TechTarget from a “neutral” rating to a “buy” rating and upped their target price for the company from $31.00 to $45.00 in a research report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, TechTarget currently has an average rating of “Hold” and a consensus price target of $40.33.

Insider Buying and Selling at TechTarget

In other TechTarget news, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the sale, the chief operating officer now directly owns 40,755 shares of the company’s stock, valued at $1,312,311. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, President Rebecca Kitchens sold 13,666 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $440,045.20. Following the sale, the president now owns 53,920 shares of the company’s stock, valued at approximately $1,736,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Steven Niemiec sold 13,608 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $438,177.60. Following the completion of the transaction, the chief operating officer now owns 40,755 shares of the company’s stock, valued at $1,312,311. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

TechTarget Stock Performance

Shares of TTGT stock opened at $27.27 on Wednesday. The business has a fifty day moving average of $30.97 and a 200 day moving average of $31.14. TechTarget, Inc. has a 1 year low of $23.43 and a 1 year high of $41.93. The company has a debt-to-equity ratio of 1.84, a current ratio of 10.04 and a quick ratio of 10.04. The firm has a market capitalization of $778.53 million, a price-to-earnings ratio of 170.44, a price-to-earnings-growth ratio of 8.10 and a beta of 0.94.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. The business had revenue of $57.29 million for the quarter, compared to analyst estimates of $56.73 million. As a group, research analysts expect that TechTarget, Inc. will post 0.62 earnings per share for the current year.

About TechTarget

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.