TechTarget, Inc. (NASDAQ:TTGT) Shares Purchased by Earnest Partners LLC

Earnest Partners LLC grew its stake in TechTarget, Inc. (NASDAQ:TTGT) by 6.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 495,701 shares of the information services provider’s stock after purchasing an additional 29,375 shares during the period. Earnest Partners LLC owned about 1.74% of TechTarget worth $15,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BOKF NA acquired a new stake in TechTarget during the second quarter valued at $239,000. State Board of Administration of Florida Retirement System grew its position 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 acquiring an additional 2,790 shares during the period. Inspire Investing LLC purchased a new position in shares of TechTarget in the 1st quarter valued at about $361,000. Riverwater Partners LLC acquired a new position in TechTarget in the 2nd quarter worth about $350,000. Finally, Price T Rowe Associates Inc. MD boosted its position in TechTarget by 9.1% during the first 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. Institutional investors and hedge funds own 93.52% of the company’s stock.

TechTarget Trading Up 1.2 %

Shares of TTGT stock opened at $23.63 on Friday. TechTarget, Inc. has a fifty-two week low of $23.11 and a fifty-two week high of $41.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.35 and a current ratio of 9.35. The stock’s fifty day moving average is $27.25 and its two-hundred day moving average is $29.29. The firm has a market capitalization of $675.11 million, a P/E ratio of -94.52, a PEG ratio of 26.98 and a beta of 1.07.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $58.91 million for the quarter, compared to analyst estimates of $58.08 million. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. TechTarget’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Research analysts expect that TechTarget, Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on TTGT. Raymond James cut their price objective on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Needham & Company LLC cut their price target on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, KeyCorp reduced their price objective on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.33.

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.