MeadowBrook Investment Advisors LLC Purchases New Position in TechTarget, Inc. (NASDAQ:TTGT)

MeadowBrook Investment Advisors LLC acquired a new position in TechTarget, Inc. (NASDAQ:TTGT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,570 shares of the information services provider’s stock, valued at approximately $194,000.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in TechTarget by 16.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock worth $80,000 after acquiring an additional 367 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of TechTarget during the 3rd quarter valued at approximately $220,000. Caxton Associates LP lifted its position in TechTarget by 26.5% in the third quarter. Caxton Associates LP now owns 8,730 shares of the information services provider’s stock worth $265,000 after buying an additional 1,827 shares during the last quarter. Quadrature Capital Ltd bought a new stake in TechTarget in the third quarter worth $323,000. Finally, Hsbc Holdings PLC bought a new position in TechTarget during the third quarter valued at $363,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TechTarget

In other news, COO Steven Niemiec sold 13,608 shares of TechTarget stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the sale, the chief operating officer now owns 40,755 shares in the company, valued at $1,312,311. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other TechTarget news, President Rebecca Kitchens sold 13,666 shares of TechTarget 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 owns 53,920 shares of the company’s stock, valued at approximately $1,736,224. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Steven Niemiec sold 13,608 shares of the stock in a transaction dated Wednesday, February 14th. The shares were 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 $1,312,311. The disclosure for this sale can be found here. Corporate insiders own 10.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on TTGT shares. 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 research note on Wednesday, January 31st. TheStreet cut TechTarget from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. KeyCorp reduced their target price on TechTarget from $58.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, January 22nd. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of TechTarget in a report on Thursday, February 8th. Finally, Raymond James lifted their price target on shares of TechTarget from $31.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.33.

TechTarget Stock Performance

TTGT traded up $0.39 during midday trading on Monday, hitting $28.39. 51,684 shares of the company were exchanged, compared to its average volume of 139,918. The company’s 50 day simple moving average is $30.24 and its 200 day simple moving average is $31.13. The company has a current ratio of 10.04, a quick ratio of 10.04 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $810.53 million, a price-to-earnings ratio of 175.01, a price-to-earnings-growth ratio of 8.35 and a beta of 0.99. TechTarget, Inc. has a 1-year low of $23.43 and a 1-year high of $41.93.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, February 7th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. TechTarget had a net margin of 1.94% and a return on equity of 8.53%. The business had revenue of $57.29 million for the quarter, compared to analyst estimates of $56.73 million. As a group, sell-side analysts predict that TechTarget, Inc. will post 0.62 earnings per share 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.