Louisiana State Employees Retirement System Makes New $450,000 Investment in TechTarget, Inc. (NASDAQ:TTGT)

Louisiana State Employees Retirement System bought a new stake in TechTarget, Inc. (NASDAQ:TTGT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,900 shares of the information services provider’s stock, valued at approximately $450,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TTGT. SG Americas Securities LLC purchased a new position in TechTarget during the third quarter valued at $465,000. Raymond James & Associates increased its stake in shares of TechTarget by 22.3% in the 3rd quarter. Raymond James & Associates now owns 23,560 shares of the information services provider’s stock worth $715,000 after acquiring an additional 4,292 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in TechTarget by 28.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,034 shares of the information services provider’s stock valued at $426,000 after acquiring an additional 3,076 shares during the period. Punch & Associates Investment Management Inc. boosted its stake in TechTarget by 2.1% during the third 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 grew its holdings in TechTarget by 29.0% in the third quarter. M&T Bank Corp now owns 29,818 shares of the information services provider’s stock worth $906,000 after purchasing an additional 6,711 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Transactions at TechTarget

In related news, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $438,177.60. Following the completion of the sale, the chief operating officer now owns 40,755 shares in the company, valued at $1,312,311. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, President Rebecca Kitchens sold 13,666 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 $440,045.20. Following the completion of 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 legal filing with the SEC, which is available at this hyperlink. Also, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the sale, 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 NASDAQ TTGT opened at $27.45 on Tuesday. The firm’s 50-day moving average price is $30.55 and its 200-day moving average price is $31.11. TechTarget, Inc. has a 52-week low of $23.43 and a 52-week high of $41.93. The company has a market cap of $783.70 million, a PE ratio of 171.57, a PEG ratio of 8.20 and a beta of 0.94. The company has a quick ratio of 10.04, a current ratio of 10.04 and a debt-to-equity ratio of 1.84.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, February 7th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. TechTarget had a net margin of 1.94% and a return on equity of 8.53%. The company had revenue of $57.29 million for the quarter, compared to analysts’ expectations of $56.73 million. As a group, analysts anticipate that TechTarget, Inc. will post 0.62 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. TheStreet cut TechTarget from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. Raymond James lifted their price target on TechTarget from $31.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of TechTarget in a research note on Thursday, February 8th. KeyCorp reduced their price objective on shares of TechTarget from $58.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. Finally, UBS Group upgraded shares of TechTarget from a “neutral” rating to a “buy” rating and upped their target price for the stock from $31.00 to $45.00 in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.33.

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.