ArrowMark Colorado Holdings LLC raised its position in shares of TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 31.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 277,282 shares of the information services provider's stock after acquiring an additional 66,766 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 0.95% of TechTarget worth $6,780,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. BOKF NA acquired a new position in TechTarget during the second quarter valued at approximately $239,000. Cornercap Investment Counsel Inc. purchased a new stake in TechTarget during the 3rd quarter worth $245,000. Intech Investment Management LLC acquired a new stake in TechTarget in the 3rd quarter valued at $257,000. Quest Partners LLC purchased a new position in TechTarget in the third quarter valued at about $272,000. Finally, SG Americas Securities LLC purchased a new position in TechTarget in the third quarter valued at about $307,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
TTGT has been the subject of a number of recent research reports. Raymond James lowered their target price on TechTarget from $39.00 to $34.00 and set an "outperform" rating for the company in a research note on Monday, August 12th. KeyCorp reduced their target price on shares of TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. Craig Hallum boosted their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, StockNews.com began coverage on TechTarget in a research note on Wednesday, November 27th. They set a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.17.
Read Our Latest Report on TechTarget
TechTarget Stock Down 23.0 %
NASDAQ TTGT traded down $7.25 on Tuesday, hitting $24.29. 120,113 shares of the stock traded hands, compared to its average volume of 129,623. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock has a 50-day moving average of $28.19 and a 200 day moving average of $28.85. TechTarget, Inc. has a twelve month low of $22.82 and a twelve month high of $41.93. The company has a market capitalization of $710.24 million, a P/E ratio of -63.40, a price-to-earnings-growth ratio of 18.13 and a beta of 1.04.
TechTarget (NASDAQ:TTGT - Get Free Report) last released its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.
About TechTarget
(
Free Report)
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.
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