Public Employees Retirement Association of Colorado Sells 434 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Public Employees Retirement Association of Colorado reduced its stake in TechTarget, Inc. (NASDAQ:TTGT) by 8.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,578 shares of the information services provider’s stock after selling 434 shares during the period. Public Employees Retirement Association of Colorado’s holdings in TechTarget were worth $143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BOKF NA acquired a new stake in shares of TechTarget in the 2nd quarter valued at approximately $239,000. State Board of Administration of Florida Retirement System boosted its position in shares of TechTarget by 37.5% during the first 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 purchasing an additional 2,790 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of TechTarget in the 1st quarter valued at $361,000. Riverwater Partners LLC bought a new stake in shares of TechTarget in the 2nd quarter valued at $350,000. Finally, Price T Rowe Associates Inc. MD raised its stake in TechTarget by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after buying an additional 959 shares during the period. Institutional investors own 93.52% of the company’s stock.

TechTarget Stock Up 4.0 %

Shares of TTGT stock opened at $24.58 on Monday. The firm’s fifty day moving average price is $27.12 and its two-hundred day moving average price is $29.23. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. TechTarget, Inc. has a 1 year low of $23.11 and a 1 year high of $41.93. The firm has a market capitalization of $701.73 million, a P/E ratio of -98.32, a PEG ratio of 26.98 and a beta of 1.07.

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

Analyst Ratings Changes

A number of research firms have issued reports on TTGT. KeyCorp decreased their target price on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Raymond James lowered their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Finally, Needham & Company LLC cut their price target on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, TechTarget currently has an average rating of “Moderate Buy” and an average target price of $37.33.

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.