Federated Hermes Inc. Increases Position in TechTarget, Inc. (NASDAQ:TTGT)

Federated Hermes Inc. grew its stake in TechTarget, Inc. (NASDAQ:TTGT) by 249.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,739 shares of the information services provider’s stock after acquiring an additional 156,814 shares during the quarter. Federated Hermes Inc. owned about 0.77% of TechTarget worth $7,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of TechTarget by 16.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 367 shares during the period. Aigen Investment Management LP purchased a new position in TechTarget during the 3rd quarter worth $220,000. Caxton Associates LP grew its stake in TechTarget by 26.5% during the 3rd 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 purchased a new position in TechTarget during the 3rd quarter worth $323,000. Finally, Hsbc Holdings PLC purchased a new position in TechTarget during the 3rd quarter worth $363,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

TechTarget Stock Performance

Shares of TTGT stock opened at $27.55 on Thursday. The stock has a market cap of $786.55 million, a PE ratio of 172.20, a price-to-earnings-growth ratio of 8.13 and a beta of 0.94. The business has a 50-day simple moving average of $30.87 and a 200-day simple moving average of $31.12. The company has a quick ratio of 10.04, a current ratio of 10.04 and a debt-to-equity ratio of 1.84. TechTarget, Inc. has a 52-week low of $23.43 and a 52-week high of $41.93.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $57.29 million during the quarter, compared to analysts’ expectations of $56.73 million. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. On average, equities analysts expect that TechTarget, Inc. will post 0.62 EPS for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TheStreet downgraded TechTarget from a “c” rating to a “d+” rating in a research note on Wednesday, February 7th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of TechTarget in a research note on Thursday, February 8th. UBS Group raised 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 report on Wednesday, January 31st. KeyCorp lowered their price target on TechTarget from $58.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. Finally, Raymond James lifted their price target on TechTarget from $31.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, TechTarget currently has a consensus rating of “Hold” and a consensus target price of $40.33.

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.