The Manufacturers Life Insurance Company Raises Stake in TechTarget, Inc. (NASDAQ:TTGT)

The Manufacturers Life Insurance Company grew its stake in shares of TechTarget, Inc. (NASDAQ:TTGT) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,993 shares of the information services provider’s stock after purchasing an additional 430 shares during the period. The Manufacturers Life Insurance Company’s holdings in TechTarget were worth $311,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in TTGT. Principal Financial Group Inc. boosted its position in shares of TechTarget by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 143,459 shares of the information services provider’s stock worth $4,746,000 after purchasing an additional 9,166 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of TechTarget by 2.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock worth $749,000 after buying an additional 456 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of TechTarget during the 1st quarter worth $501,000. Swiss National Bank raised its stake in shares of TechTarget by 2.2% during the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock worth $1,671,000 after buying an additional 1,100 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of TechTarget by 4.6% during the 1st quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock worth $1,087,000 after buying an additional 1,432 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

TechTarget Price Performance

TTGT stock opened at $28.10 on Friday. The stock has a market capitalization of $821.64 million, a price-to-earnings ratio of -93.67, a price-to-earnings-growth ratio of 28.27 and a beta of 1.06. The stock’s fifty day simple moving average is $25.30 and its 200-day simple moving average is $28.55. 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 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Raymond James cut their price target on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Craig Hallum raised TechTarget from a “hold” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $36.00 in a research note on Tuesday. KeyCorp cut their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Finally, Needham & Company LLC cut their price target on TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.67.

About TechTarget

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.