Oregon Public Employees Retirement Fund cut its stake in shares of TechTarget, Inc. (NASDAQ:TTGT – Free Report) by 5.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 8,072 shares of the information services provider’s stock after selling 500 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in TechTarget were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its position in shares of TechTarget by 9.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the information services provider’s stock valued at $423,000 after acquiring an additional 1,200 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of TechTarget in the 2nd quarter valued at approximately $172,000. Advisory Services Network LLC raised its position in TechTarget by 8,946.6% in the first quarter. Advisory Services Network LLC now owns 15,741 shares of the information services provider’s stock valued at $569,000 after purchasing an additional 15,567 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of TechTarget by 76.4% during the first quarter. Thrivent Financial for Lutherans now owns 48,818 shares of the information services provider’s stock worth $1,763,000 after buying an additional 21,145 shares during the period. Finally, Silvercrest Asset Management Group LLC acquired a new stake in shares of TechTarget in the first quarter valued at $1,447,000. 92.64% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on TTGT shares. Raymond James began coverage on TechTarget in a report on Wednesday, September 27th. They set an “outperform” rating and a $32.00 target price for the company. UBS Group began coverage on TechTarget in a research report on Monday, September 25th. They issued a “neutral” rating and a $31.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on TechTarget from $36.00 to $32.00 and set an “underweight” rating on the stock in a report on Wednesday, August 9th. Needham & Company LLC decreased their price objective on shares of TechTarget from $55.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Finally, The Goldman Sachs Group upped their target price on TechTarget from $27.00 to $30.00 and gave the company a “sell” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.11.
TechTarget Stock Down 2.5 %
TTGT opened at $25.87 on Tuesday. The firm has a market cap of $719.70 million, a P/E ratio of 30.44 and a beta of 0.91. The business’s fifty day simple moving average is $28.84 and its 200 day simple moving average is $31.69. TechTarget, Inc. has a 52 week low of $25.76 and a 52 week high of $67.84. The company has a quick ratio of 9.84, a current ratio of 9.84 and a debt-to-equity ratio of 2.26.
TechTarget (NASDAQ:TTGT – Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The information services provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. The company had revenue of $58.43 million for the quarter, compared to analysts’ expectations of $57.40 million. TechTarget had a net margin of 9.91% and a return on equity of 17.70%. As a group, equities research analysts anticipate that TechTarget, Inc. will post 0.44 EPS for the current fiscal year.
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 provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.
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