Raymond James & Associates Decreases Position in TechTarget, Inc. (NASDAQ:TTGT)

Raymond James & Associates cut its position in TechTarget, Inc. (NASDAQ:TTGT) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,268 shares of the information services provider’s stock after selling 433 shares during the period. Raymond James & Associates owned approximately 0.07% of TechTarget worth $600,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. State of Wyoming raised its holdings in TechTarget by 121.2% in the fourth quarter. State of Wyoming now owns 1,208 shares of the information services provider’s stock worth $53,000 after buying an additional 662 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of TechTarget by 51.6% during the first quarter. Advisors Asset Management Inc. now owns 828 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 282 shares during the last quarter. Point72 Middle East FZE purchased a new position in shares of TechTarget during the fourth quarter valued at approximately $73,000. Amundi raised its holdings in shares of TechTarget by 51.0% during the fourth quarter. Amundi now owns 2,126 shares of the information services provider’s stock valued at $98,000 after purchasing an additional 718 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of TechTarget by 65.7% during the third quarter. Tower Research Capital LLC TRC now owns 2,104 shares of the information services provider’s stock valued at $125,000 after purchasing an additional 834 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Raymond James assumed coverage on shares of TechTarget in a report on Wednesday, September 27th. They set an “outperform” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of TechTarget from $36.00 to $32.00 and set an “underweight” rating for the company in a report on Wednesday, August 9th. StockNews.com assumed coverage on shares of TechTarget in a report on Thursday, October 5th. They set a “hold” rating for the company. UBS Group assumed coverage on shares of TechTarget in a report on Monday, September 25th. They set a “neutral” rating and a $31.00 price objective for the company. Finally, The Goldman Sachs Group boosted their target price on shares of TechTarget from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.11.

TechTarget Stock Performance

Shares of NASDAQ TTGT opened at $25.79 on Wednesday. The firm has a 50 day moving average of $27.97 and a 200 day moving average of $30.89. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $717.48 million, a price-to-earnings ratio of 30.34 and a beta of 0.99. TechTarget, Inc. has a 12-month low of $23.43 and a 12-month high of $54.35.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Tuesday, August 8th. The information services provider reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. The business had revenue of $58.43 million during the quarter, compared to analyst estimates of $57.40 million. TechTarget had a net margin of 9.91% and a return on equity of 17.70%. On average, research analysts anticipate that TechTarget, Inc. will post 0.44 earnings per share for the current 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 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.