Eagle Asset Management Inc. Sells 87,027 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Eagle Asset Management Inc. decreased its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) by 18.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,705 shares of the information services provider’s stock after selling 87,027 shares during the quarter. Eagle Asset Management Inc.’s holdings in TechTarget were worth $9,406,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. BOKF NA bought a new stake in shares of TechTarget during the second quarter valued at approximately $239,000. The Manufacturers Life Insurance Company raised its position in TechTarget by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after purchasing an additional 430 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in TechTarget during the 3rd quarter valued at $245,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of TechTarget by 37.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after buying an additional 2,790 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of TechTarget during the 3rd quarter worth $257,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Stock Up 4.8 %

Shares of TechTarget stock opened at $32.44 on Friday. TechTarget, Inc. has a 52-week low of $22.82 and a 52-week high of $41.93. The firm’s 50 day moving average price is $27.33 and its 200-day moving average price is $28.73. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The company has a market cap of $948.55 million, a P/E ratio of -77.24, a PEG ratio of 17.47 and a beta of 1.03.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TTGT shares. Craig Hallum raised their price target on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. 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. Raymond James cut their price objective on shares of 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 target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Company 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.