Louisiana State Employees Retirement System Takes Position in TechTarget, Inc. (NASDAQ:TTGT)

Louisiana State Employees Retirement System purchased a new stake in shares of TechTarget, Inc. (NASDAQ:TTGT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,900 shares of the information services provider’s stock, valued at approximately $450,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Trigran Investments Inc. raised its stake in shares of TechTarget by 49.5% during the third quarter. Trigran Investments Inc. now owns 2,671,510 shares of the information services provider’s stock valued at $81,107,000 after acquiring an additional 884,295 shares in the last quarter. Vanguard Group Inc. increased its holdings in TechTarget by 1.8% during the third quarter. Vanguard Group Inc. now owns 1,959,476 shares of the information services provider’s stock valued at $59,490,000 after buying an additional 34,024 shares during the period. Earnest Partners LLC increased its holdings in TechTarget by 13.5% during the third quarter. Earnest Partners LLC now owns 510,976 shares of the information services provider’s stock valued at $15,513,000 after buying an additional 60,889 shares during the period. Envestnet Asset Management Inc. increased its holdings in TechTarget by 152.7% during the third quarter. Envestnet Asset Management Inc. now owns 254,476 shares of the information services provider’s stock valued at $7,726,000 after buying an additional 153,761 shares during the period. Finally, Kent Lake Capital LLC purchased a new position in TechTarget during the third quarter valued at approximately $6,831,000. Institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TTGT. Raymond James lifted their price objective on shares of TechTarget from $31.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 12th. KeyCorp cut their price target on shares of TechTarget from $58.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, January 22nd. TheStreet lowered shares of TechTarget from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. UBS Group raised shares of TechTarget from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $31.00 to $45.00 in a report on Wednesday, January 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of TechTarget in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given 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 $40.33.

Insider Activity

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

TechTarget Price Performance

Shares of TTGT opened at $27.45 on Tuesday. The firm has a market capitalization of $783.70 million, a PE ratio of 171.57, a price-to-earnings-growth ratio of 8.20 and a beta of 0.94. The company has a debt-to-equity ratio of 1.84, a current ratio of 10.04 and a quick ratio of 10.04. TechTarget, Inc. has a 1-year low of $23.43 and a 1-year high of $41.93. The company’s fifty day moving average price is $30.55 and its 200-day moving average price is $31.11.

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