TechTarget, Inc. (NASDAQ:TTGT) Stock Holdings Reduced by Zions Bancorporation N.A.

Zions Bancorporation N.A. cut its position in shares of TechTarget, Inc. (NASDAQ:TTGT) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,833 shares of the information services provider’s stock after selling 1,336 shares during the period. Zions Bancorporation N.A. owned 0.13% of TechTarget worth $1,148,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Trigran Investments Inc. raised its holdings in TechTarget by 2.1% during the fourth quarter. Trigran Investments Inc. now owns 2,726,635 shares of the information services provider’s stock valued at $95,050,000 after buying an additional 55,125 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of TechTarget by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 209,083 shares of the information services provider’s stock valued at $7,289,000 after acquiring an additional 1,768 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in TechTarget in the 1st quarter worth approximately $501,000. Sei Investments Co. boosted its position in TechTarget by 4.6% during the first quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock worth $1,087,000 after purchasing an additional 1,432 shares during the period. Finally, Rice Hall James & Associates LLC grew its holdings in TechTarget by 21.2% during the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock valued at $7,560,000 after purchasing an additional 42,374 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on TTGT shares. Raymond James reduced their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of TechTarget in a report on Friday, August 9th. Finally, KeyCorp dropped their price objective on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

TechTarget Price Performance

NASDAQ TTGT opened at $24.51 on Friday. The firm’s 50 day moving average is $28.69 and its 200-day moving average is $29.72. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $700.25 million, a PE ratio of -98.04, a price-to-earnings-growth ratio of 26.46 and a beta of 1.07. TechTarget, Inc. has a 12-month low of $23.11 and a 12-month high of $41.93.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. The firm had revenue of $58.91 million for the quarter, compared to analysts’ expectations of $58.08 million. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. Equities research analysts anticipate that TechTarget, Inc. will post 0.5 earnings per share for the current fiscal year.

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.