LMR Partners LLP Invests $526,000 in TechTarget, Inc. (NASDAQ:TTGT)

LMR Partners LLP purchased a new position in TechTarget, Inc. (NASDAQ:TTGT) during the third quarter, HoldingsChannel reports. The firm purchased 21,529 shares of the information services provider’s stock, valued at approximately $526,000.

Several other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after buying an additional 430 shares in the last quarter. Inspire Investing LLC lifted its position in TechTarget by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after acquiring an additional 469 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in TechTarget by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock valued at $381,000 after acquiring an additional 959 shares in the last quarter. Swiss National Bank boosted its stake in TechTarget by 2.2% during the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock valued at $1,671,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of TechTarget by 4.6% in the 1st 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 in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

TechTarget Price Performance

NASDAQ TTGT opened at $30.52 on Wednesday. The company has a 50-day moving average price of $26.76 and a 200-day moving average price of $28.66. TechTarget, Inc. has a 52 week low of $22.82 and a 52 week 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. The firm has a market capitalization of $892.40 million, a P/E ratio of -72.67, a PEG ratio of 28.59 and a beta of 1.03.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. Equities research analysts anticipate that TechTarget, Inc. will post 0.57 earnings per share for the current 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.