SG Americas Securities LLC Buys New Position in TechTarget, Inc. (NASDAQ:TTGT)

SG Americas Securities LLC purchased a new stake in TechTarget, Inc. (NASDAQ:TTGT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,547 shares of the information services provider’s stock, valued at approximately $307,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BOKF NA acquired a new position in TechTarget in the 2nd quarter valued at $239,000. The Manufacturers Life Insurance Company boosted 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 valued at $311,000 after buying an additional 430 shares in the last quarter. Riverwater Partners LLC acquired a new stake in TechTarget in the second quarter valued at $350,000. Inspire Investing LLC lifted its stake in shares of TechTarget by 4.3% in the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after purchasing an additional 469 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in TechTarget by 37.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after purchasing an additional 2,790 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Stock Up 3.2 %

TechTarget stock opened at $29.00 on Friday. TechTarget, Inc. has a 1-year low of $22.82 and a 1-year high of $41.93. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. The firm’s fifty day simple moving average is $25.34 and its 200-day simple moving average is $28.49. The company has a market capitalization of $827.92 million, a P/E ratio of -116.00, a P/E/G ratio of 28.27 and a beta of 1.06.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The company had revenue of $58.91 million during the quarter, compared to analysts’ expectations of $58.08 million. During the same period in the prior year, the business earned $0.17 earnings per share. TechTarget’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts forecast that TechTarget, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. KeyCorp cut their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Raymond James dropped their price objective on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Craig Hallum upgraded TechTarget from a “hold” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $36.00 in a report on Tuesday, October 15th. Finally, Needham & Company LLC cut their price target on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, TechTarget presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

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.