New York State Teachers Retirement System Decreases Position in TechTarget, Inc. (NASDAQ:TTGT)

New York State Teachers Retirement System cut its stake in shares of TechTarget, Inc. (NASDAQ:TTGTGet Rating) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,142 shares of the information services provider’s stock after selling 439 shares during the period. New York State Teachers Retirement System owned 0.05% of TechTarget worth $956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Versor Investments LP bought a new position in TechTarget in the third quarter worth approximately $231,000. Geneva Capital Management LLC grew its position in TechTarget by 34.3% during the 2nd quarter. Geneva Capital Management LLC now owns 656,944 shares of the information services provider’s stock worth $43,174,000 after purchasing an additional 167,829 shares during the period. Zions Bancorporation N.A. grew its position in shares of TechTarget by 23.7% during the 2nd quarter. Zions Bancorporation N.A. now owns 7,759 shares of the information services provider’s stock valued at $510,000 after acquiring an additional 1,488 shares during the period. Redhawk Wealth Advisors Inc. grew its position in shares of TechTarget by 5.7% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 11,337 shares of the information services provider’s stock valued at $745,000 after acquiring an additional 612 shares during the period. Finally, Everence Capital Management Inc. grew its position in shares of TechTarget by 59.7% during the 2nd quarter. Everence Capital Management Inc. now owns 4,120 shares of the information services provider’s stock valued at $271,000 after acquiring an additional 1,540 shares during the period. Institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TTGT. Cowen lowered their price objective on TechTarget to $47.00 in a report on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft downgraded shares of TechTarget from a “buy” rating to a “hold” rating and dropped their target price for the company from $85.00 to $45.00 in a report on Thursday, November 10th. KeyCorp dropped their target price on shares of TechTarget from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 10th. Raymond James dropped their price target on shares of TechTarget from $82.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, November 10th. Finally, Craig Hallum downgraded shares of TechTarget from a “buy” rating to a “hold” rating and dropped their price target for the stock from $85.00 to $45.00 in a research note on Thursday, November 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.50.

TechTarget Stock Performance

NASDAQ:TTGT opened at $46.43 on Friday. The company has a quick ratio of 7.53, a current ratio of 7.53 and a debt-to-equity ratio of 1.98. The company has a market cap of $1.36 billion, a P/E ratio of 89.29 and a beta of 0.88. TechTarget, Inc. has a fifty-two week low of $41.79 and a fifty-two week high of $91.95. The firm’s 50 day moving average is $44.88 and its two-hundred day moving average is $57.02.

TechTarget (NASDAQ:TTGTGet Rating) last released its quarterly earnings results on Wednesday, November 9th. The information services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $77.41 million during the quarter, compared to analyst estimates of $80.26 million. TechTarget had a net margin of 6.12% and a return on equity of 23.09%. Analysts expect that TechTarget, Inc. will post 1.55 EPS for the current year.

TechTarget Profile

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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. It also 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.

Further Reading

Institutional Ownership by Quarter for TechTarget (NASDAQ:TTGT)

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