Punch & Associates Investment Management Inc. Has $12.93 Million Stake in TechTarget Inc (NASDAQ:TTGT)

Punch & Associates Investment Management Inc. lifted its position in TechTarget Inc (NASDAQ:TTGT) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 794,811 shares of the information services provider’s stock after purchasing an additional 11,435 shares during the period. TechTarget comprises 1.1% of Punch & Associates Investment Management Inc.’s portfolio, making the stock its 16th largest holding. Punch & Associates Investment Management Inc.’s holdings in TechTarget were worth $12,932,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GYL Financial Synergies LLC acquired a new stake in TechTarget in the 1st quarter worth approximately $567,000. Trigran Investments Inc. boosted its stake in TechTarget by 1.9% in the 1st quarter. Trigran Investments Inc. now owns 327,416 shares of the information services provider’s stock worth $5,328,000 after purchasing an additional 6,100 shares in the last quarter. Northern Trust Corp boosted its stake in TechTarget by 2.1% in the 1st quarter. Northern Trust Corp now owns 272,541 shares of the information services provider’s stock worth $4,434,000 after purchasing an additional 5,582 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in TechTarget by 109.5% in the 1st quarter. State of Tennessee Treasury Department now owns 21,014 shares of the information services provider’s stock worth $342,000 after purchasing an additional 10,984 shares in the last quarter. Finally, Swiss National Bank boosted its stake in TechTarget by 6.7% in the 1st quarter. Swiss National Bank now owns 38,300 shares of the information services provider’s stock worth $623,000 after purchasing an additional 2,400 shares in the last quarter. 76.79% of the stock is owned by hedge funds and other institutional investors.

NASDAQ TTGT traded down $0.16 on Friday, hitting $20.09. 4,275 shares of the company’s stock traded hands, compared to its average volume of 252,720. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.39. TechTarget Inc has a 1-year low of $11.12 and a 1-year high of $34.47. The stock has a market cap of $558.90 million, a price-to-earnings ratio of 45.00 and a beta of 0.82.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, May 8th. The information services provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. TechTarget had a net margin of 11.41% and a return on equity of 10.74%. The business had revenue of $29.97 million during the quarter, compared to analysts’ expectations of $29.32 million. During the same period in the previous year, the business posted $0.11 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts forecast that TechTarget Inc will post 0.54 EPS for the current year.

Several analysts have commented on TTGT shares. BidaskClub upgraded shares of TechTarget from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. ValuEngine upgraded shares of TechTarget from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Craig Hallum upgraded shares of TechTarget from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday, May 9th. Finally, Zacks Investment Research upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. TechTarget has a consensus rating of “Buy” and an average price target of $26.00.

In other TechTarget news, CEO Michael Cotoia sold 3,000 shares of TechTarget stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $16.73, for a total transaction of $50,190.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Don Hawk sold 15,000 shares of TechTarget stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $19.54, for a total transaction of $293,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,887 shares of company stock valued at $2,734,365. Company insiders own 27.14% of the company’s stock.

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TechTarget Company Profile

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand advertising techniques.

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Institutional Ownership by Quarter for TechTarget (NASDAQ:TTGT)

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