Envestnet Asset Management Inc. Has $9.97 Million Stake in TechTarget, Inc. (NASDAQ:TTGT)

Envestnet Asset Management Inc. raised its position in TechTarget, Inc. (NASDAQ:TTGT) by 2.6% in the second quarter, HoldingsChannel.com reports. The fund owned 319,976 shares of the information services provider’s stock after purchasing an additional 8,212 shares during the quarter. Envestnet Asset Management Inc.’s holdings in TechTarget were worth $9,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. BOKF NA bought a new stake in shares of TechTarget in the 2nd quarter valued at about $239,000. Riverwater Partners LLC bought a new stake in TechTarget in the second quarter valued at approximately $350,000. Inspire Investing LLC bought a new position in shares of TechTarget during the 1st quarter worth approximately $361,000. State Board of Administration of Florida Retirement System increased its holdings 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 worth $370,000 after acquiring an additional 2,790 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in TechTarget by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock valued at $381,000 after acquiring an additional 959 shares during the period. Institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on TTGT shares. Needham & Company LLC reduced their price objective on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 16th. KeyCorp reduced their target price on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Finally, Raymond James lowered their price target 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

TechTarget Price Performance

NASDAQ:TTGT opened at $23.63 on Friday. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. TechTarget, Inc. has a 52 week low of $23.11 and a 52 week high of $41.93. The firm’s 50-day simple moving average is $27.25 and its 200 day simple moving average is $29.29.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Thursday, August 8th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $58.91 million for the quarter, compared to analysts’ expectations of $58.08 million. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. On average, analysts forecast that TechTarget, Inc. will post 0.5 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'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.