LMR Partners LLP Buys New Shares in TechTarget, Inc. (NASDAQ:TTGT)

LMR Partners LLP bought a new position in TechTarget, Inc. (NASDAQ:TTGT) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 21,529 shares of the information services provider’s stock, valued at approximately $526,000. LMR Partners LLP owned 0.07% of TechTarget as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BOKF NA bought a new position in shares of TechTarget during the second quarter valued at about $239,000. Cornercap Investment Counsel Inc. purchased a new stake in TechTarget during the 3rd quarter valued at about $245,000. Quest Partners LLC purchased a new position in TechTarget in the 3rd quarter worth approximately $272,000. SG Americas Securities LLC bought a new stake in TechTarget in the third quarter valued at approximately $307,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of TechTarget by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after purchasing an additional 430 shares during the period. 93.52% of the stock is owned by institutional investors.

TechTarget Trading Up 2.3 %

NASDAQ TTGT opened at $30.52 on Wednesday. The firm has a market capitalization of $892.40 million, a PE ratio of -72.67, a P/E/G ratio of 28.59 and a beta of 1.03. The stock’s 50 day moving average is $26.76 and its 200 day moving average is $28.66. TechTarget, Inc. has a twelve month low of $22.82 and a twelve month high of $41.93. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The business had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. TechTarget’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Research analysts forecast that TechTarget, Inc. will post 0.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TTGT. Craig Hallum lifted their target price on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Raymond James cut their price objective on TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. KeyCorp decreased their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, TechTarget currently has a consensus rating of “Moderate Buy” and an average price target of $38.17.

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.