TechTarget, Inc. (NASDAQ:TTGT) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in shares of TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 249.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 219,739 shares of the information services provider's stock after buying an additional 156,814 shares during the quarter. Federated Hermes Inc. owned approximately 0.77% of TechTarget worth $7,660,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Trigran Investments Inc. lifted its stake in TechTarget by 49.5% in the 3rd quarter. Trigran Investments Inc. now owns 2,671,510 shares of the information services provider's stock worth $81,107,000 after purchasing an additional 884,295 shares in the last quarter. Vanguard Group Inc. grew its holdings in TechTarget by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,959,476 shares of the information services provider's stock valued at $59,490,000 after purchasing an additional 34,024 shares during the last quarter. Earnest Partners LLC grew its holdings in TechTarget by 13.5% during the 3rd quarter. Earnest Partners LLC now owns 510,976 shares of the information services provider's stock valued at $15,513,000 after purchasing an additional 60,889 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in TechTarget by 152.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 254,476 shares of the information services provider's stock valued at $7,726,000 after purchasing an additional 153,761 shares during the last quarter. Finally, Kent Lake Capital LLC bought a new position in TechTarget during the 3rd quarter valued at about $6,831,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Analyst Ratings Changes

TTGT has been the topic of a number of research analyst reports. KeyCorp dropped their target price on shares of TechTarget from $58.00 to $40.00 and set an "overweight" rating on the stock in a research note on Monday, January 22nd. TheStreet downgraded shares of TechTarget from a "c" rating to a "d+" rating in a research note on Wednesday, February 7th. UBS Group upgraded shares of TechTarget from a "neutral" rating to a "buy" rating and increased their price objective for the company from $31.00 to $45.00 in a research note on Wednesday, January 31st. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of TechTarget in a research note on Thursday, February 8th. Finally, Raymond James increased their price objective 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 given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $40.33.

Insiders Place Their Bets

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

TechTarget Stock Down 2.0 %

NASDAQ:TTGT traded down $0.55 during midday trading on Thursday, reaching $27.00. 92,901 shares of the stock traded hands, compared to its average volume of 145,975. TechTarget, Inc. has a 12-month low of $23.43 and a 12-month high of $41.93. The business has a 50-day moving average of $30.87 and a two-hundred day moving average of $31.12. The company has a debt-to-equity ratio of 1.84, a quick ratio of 10.04 and a current ratio of 10.04. The stock has a market capitalization of $770.85 million, a PE ratio of 172.20, a price-to-earnings-growth ratio of 8.13 and a beta of 0.94.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its earnings results on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, meeting analysts' consensus estimates of $0.11. TechTarget had a net margin of 1.94% and a return on equity of 8.53%. The company had revenue of $57.29 million during the quarter, compared to analysts' expectations of $56.73 million. On average, equities analysts forecast that TechTarget, Inc. will post 0.62 earnings per share for the current fiscal year.

TechTarget 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.