TechTarget, Inc. (NASDAQ:TTGT) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its stake in TechTarget, Inc. (NASDAQ:TTGT) by 14.4% in the second quarter, HoldingsChannel reports. The fund owned 34,576 shares of the information services provider’s stock after purchasing an additional 4,352 shares during the quarter. American Century Companies Inc.’s holdings in TechTarget were worth $1,078,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake 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 acquiring an additional 2,790 shares during the period. Inspire Investing LLC bought a new stake in shares of TechTarget in the 1st quarter worth approximately $361,000. Riverwater Partners LLC bought a new stake in shares of TechTarget in the 2nd quarter worth approximately $350,000. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 worth $381,000 after purchasing an additional 959 shares in the last quarter. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of TechTarget in the 1st quarter worth approximately $501,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Raymond James dropped their target price 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. Needham & Company LLC dropped their target price on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, KeyCorp dropped their target price on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.33.

TechTarget Stock Performance

TTGT stock opened at $24.45 on Tuesday. TechTarget, Inc. has a 52-week low of $23.11 and a 52-week high of $41.93. The company’s 50 day simple moving average is $27.12 and its 200-day simple moving average is $29.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.35 and a current ratio of 9.35.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. 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 previous year, the business earned $0.17 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that TechTarget, Inc. will post 0.5 EPS for the current fiscal year.

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.