Public Sector Pension Investment Board Sells 2,600 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Public Sector Pension Investment Board decreased its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,606 shares of the information services provider’s stock after selling 2,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in TechTarget were worth $1,335,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TTGT. BOKF NA acquired a new stake in TechTarget during the 2nd quarter worth $239,000. The Manufacturers Life Insurance Company grew its stake in shares of TechTarget by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after purchasing an additional 430 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in TechTarget in the third quarter valued at about $245,000. Intech Investment Management LLC bought a new position in TechTarget during the third quarter worth about $257,000. Finally, Quest Partners LLC acquired a new position in shares of TechTarget during the 3rd quarter worth about $272,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TTGT shares. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research report on Wednesday, November 13th. StockNews.com initiated coverage on shares of TechTarget in a research report on Thursday. They set a “hold” rating on the stock. Craig Hallum upped 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. Raymond James reduced their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, KeyCorp lowered their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Stock Performance

TTGT opened at $25.54 on Friday. The company has a market capitalization of $746.66 million, a price-to-earnings ratio of -60.81, a P/E/G ratio of 14.28 and a beta of 1.04. The business’s 50-day moving average price is $28.32 and its two-hundred day moving average price is $28.73. TechTarget, Inc. has a 1 year low of $22.01 and a 1 year high of $33.08. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

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