Charles Schwab Investment Management Inc. Sells 6,257 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Charles Schwab Investment Management Inc. cut its stake in TechTarget, Inc. (NASDAQ:TTGT) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 219,962 shares of the information services provider’s stock after selling 6,257 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of TechTarget worth $5,378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOKF NA purchased a new stake in shares of TechTarget during the second quarter worth about $239,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of TechTarget during the third quarter valued at approximately $245,000. Intech Investment Management LLC purchased a new stake in shares of TechTarget during the third quarter valued at approximately $257,000. Quest Partners LLC purchased a new stake in TechTarget in the third quarter worth approximately $272,000. Finally, SG Americas Securities LLC purchased a new stake in TechTarget in the third quarter worth approximately $307,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

TechTarget Price Performance

Shares of TechTarget stock opened at $21.96 on Friday. The company’s 50-day moving average price is $28.21 and its two-hundred day moving average price is $28.52. The stock has a market cap of $642.00 million, a PE ratio of -52.29, a price-to-earnings-growth ratio of 14.42 and a beta of 1.04. TechTarget, Inc. has a 52 week low of $21.55 and a 52 week high of $33.08. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

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

Analyst Ratings Changes

TTGT has been the topic of a number of research reports. StockNews.com began coverage on shares of TechTarget in a report on Thursday, December 5th. They issued a “hold” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. Craig Hallum boosted their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp cut their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TechTarget currently 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.