Quantamental Technologies LLC acquired a new position in TechTarget Inc (NASDAQ:TTGT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,625 shares of the information services provider’s stock, valued at approximately $56,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in TechTarget by 4.7% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 12,584 shares of the information services provider’s stock valued at $267,000 after buying an additional 560 shares in the last quarter. WINTON GROUP Ltd grew its holdings in TechTarget by 4.1% during the 2nd quarter. WINTON GROUP Ltd now owns 20,685 shares of the information services provider’s stock valued at $440,000 after buying an additional 819 shares in the last quarter. Summit Creek Advisors LLC grew its holdings in TechTarget by 0.3% during the 2nd quarter. Summit Creek Advisors LLC now owns 306,089 shares of the information services provider’s stock valued at $6,504,000 after buying an additional 860 shares in the last quarter. Bank of Montreal Can grew its holdings in TechTarget by 155.8% during the 1st quarter. Bank of Montreal Can now owns 1,558 shares of the information services provider’s stock valued at $25,000 after buying an additional 949 shares in the last quarter. Finally, Comerica Bank grew its holdings in TechTarget by 4.6% during the 1st quarter. Comerica Bank now owns 21,933 shares of the information services provider’s stock valued at $362,000 after buying an additional 971 shares in the last quarter. 75.25% of the stock is owned by institutional investors.

A number of research firms have weighed in on TTGT. Zacks Investment Research lowered TechTarget from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. BidaskClub raised TechTarget from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, ValuEngine raised TechTarget from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. TechTarget has a consensus rating of “Buy” and a consensus price target of $25.75.

Shares of TTGT remained flat at $$24.83 during trading hours on Friday. The stock had a trading volume of 31,886 shares, compared to its average volume of 160,043. The company has a market capitalization of $655.08 million, a PE ratio of 55.18 and a beta of 0.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.85 and a current ratio of 4.85. The firm’s 50 day simple moving average is $23.39 and its 200 day simple moving average is $19.75. TechTarget Inc has a 12-month low of $11.12 and a 12-month high of $25.14.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Wednesday, August 7th. The information services provider reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $34.29 million during the quarter, compared to the consensus estimate of $33.73 million. TechTarget had a return on equity of 10.28% and a net margin of 10.95%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. Analysts expect that TechTarget Inc will post 0.65 earnings per share for the current year.

In other news, CFO Daniel T. Noreck sold 3,000 shares of TechTarget stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $21.21, for a total transaction of $63,630.00. Following the completion of the sale, the chief financial officer now owns 13,757 shares in the company, valued at approximately $291,785.97. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cotoia sold 6,775 shares of TechTarget stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $21.38, for a total value of $144,849.50. Following the sale, the chief executive officer now owns 111,948 shares of the company’s stock, valued at approximately $2,393,448.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,775 shares of company stock valued at $2,958,450. Corporate insiders own 27.14% of the company’s stock.

TechTarget Company Profile

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand advertising techniques.

Further Reading: Oversold

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Institutional Ownership by Quarter for TechTarget (NASDAQ:TTGT)

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