Federated Hermes Inc. Raises Holdings in TechTarget, Inc. (NASDAQ:TTGT)

Federated Hermes Inc. lifted its holdings in shares of TechTarget, Inc. (NASDAQ:TTGT) by 249.2% in the fourth quarter, HoldingsChannel reports. The firm owned 219,739 shares of the information services provider’s stock after acquiring an additional 156,814 shares during the period. Federated Hermes Inc.’s holdings in TechTarget were worth $7,660,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Impax Asset Management Group plc increased its stake in shares of TechTarget by 60.9% during the 4th quarter. Impax Asset Management Group plc now owns 213,387 shares of the information services provider’s stock worth $7,439,000 after purchasing an additional 80,804 shares in the last quarter. Vanguard Group Inc. raised its holdings in TechTarget by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,959,476 shares of the information services provider’s stock valued at $59,490,000 after acquiring an additional 34,024 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in TechTarget by 160.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 202,105 shares of the information services provider’s stock valued at $6,136,000 after acquiring an additional 124,433 shares during the last quarter. M&T Bank Corp raised its holdings in TechTarget by 29.0% in the 3rd quarter. M&T Bank Corp now owns 29,818 shares of the information services provider’s stock valued at $906,000 after acquiring an additional 6,711 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in TechTarget by 18.0% in the 3rd quarter. Rice Hall James & Associates LLC now owns 188,308 shares of the information services provider’s stock valued at $5,717,000 after acquiring an additional 28,736 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Rebecca Kitchens sold 13,666 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $440,045.20. Following the completion of the transaction, the president now owns 53,920 shares of the company’s stock, valued at approximately $1,736,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other TechTarget news, President Rebecca Kitchens sold 13,666 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $440,045.20. Following the completion of the sale, the president now owns 53,920 shares in the company, valued at approximately $1,736,224. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Steven Niemiec sold 13,608 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $438,177.60. Following the completion of the sale, the chief operating officer now owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

TechTarget Trading Up 1.0 %

Shares of NASDAQ:TTGT opened at $27.55 on Thursday. The stock has a market capitalization of $786.55 million, a price-to-earnings ratio of 172.20, a PEG ratio of 8.13 and a beta of 0.94. TechTarget, Inc. has a 1-year low of $23.43 and a 1-year high of $41.93. The company has a debt-to-equity ratio of 1.84, a quick ratio of 10.04 and a current ratio of 10.04. The company has a 50 day moving average price of $30.87 and a 200 day moving average price of $31.12.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, February 7th. The information services provider reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. TechTarget had a net margin of 1.94% and a return on equity of 8.53%. The firm had revenue of $57.29 million during the quarter, compared to analysts’ expectations of $56.73 million. On average, research analysts anticipate that TechTarget, Inc. will post 0.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on TTGT. TheStreet downgraded TechTarget from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of TechTarget in a report on Thursday, February 8th. KeyCorp dropped their price objective on TechTarget from $58.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. UBS Group upgraded TechTarget from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $31.00 to $45.00 in a report on Wednesday, January 31st. Finally, Raymond James upped their price objective on TechTarget from $31.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.33.

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.