Quest Partners LLC Invests $272,000 in TechTarget, Inc. (NASDAQ:TTGT)

Quest Partners LLC acquired a new stake in shares of TechTarget, Inc. (NASDAQ:TTGT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,121 shares of the information services provider’s stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of TechTarget by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after acquiring an additional 8,681 shares during the last quarter. Earnest Partners LLC grew its position in TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after purchasing an additional 29,375 shares during the last quarter. Impax Asset Management Group plc grew its position in TechTarget by 24.9% in the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 70,000 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of TechTarget by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock valued at $9,974,000 after purchasing an additional 8,212 shares during the period. Finally, Rice Hall James & Associates LLC raised its holdings in shares of TechTarget by 10.3% during the third quarter. Rice Hall James & Associates LLC now owns 267,592 shares of the information services provider’s stock valued at $6,543,000 after buying an additional 25,047 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp decreased their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Craig Hallum increased their price target on 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 shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $32.88 on Wednesday. The firm has a 50-day moving average of $27.51 and a two-hundred day moving average of $28.78. The company has a market capitalization of $961.25 million, a price-to-earnings ratio of -78.29, a PEG ratio of 18.31 and a beta of 1.03. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget, Inc. has a twelve month low of $22.82 and a twelve month high of $41.93.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The firm 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 for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. As a group, analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

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.