Impax Asset Management Group plc Buys 70,000 Shares of TechTarget, Inc. (NASDAQ:TTGT)

Impax Asset Management Group plc increased its position in TechTarget, Inc. (NASDAQ:TTGT - Free Report) by 24.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 351,387 shares of the information services provider's stock after acquiring an additional 70,000 shares during the period. Impax Asset Management Group plc owned about 1.20% of TechTarget worth $8,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTGT. Earnest Partners LLC raised its stake in shares of TechTarget by 6.3% in the second 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. Harbor Capital Advisors Inc. boosted its holdings in shares of TechTarget by 152.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider's stock valued at $3,921,000 after acquiring an additional 96,896 shares during the last quarter. Sei Investments Co. grew its stake in shares of TechTarget by 4.6% in the first quarter. Sei Investments Co. now owns 32,853 shares of the information services provider's stock worth $1,087,000 after acquiring an additional 1,432 shares during the period. Rice Hall James & Associates LLC raised its holdings in shares of TechTarget by 21.2% during the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider's stock valued at $7,560,000 after purchasing an additional 42,374 shares during the last quarter. Finally, Swiss National Bank lifted its position in TechTarget by 2.2% during the first 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 period. 93.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TTGT shares. Craig Hallum boosted their target price on shares of TechTarget from $36.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday. KeyCorp dropped their target price on TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Thursday. 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.17.

TechTarget Stock Performance

TechTarget stock traded down $0.29 during midday trading on Friday, hitting $29.01. The stock had a trading volume of 185,419 shares, compared to its average volume of 129,258. The company has a current ratio of 10.49, a quick ratio of 9.35 and a debt-to-equity ratio of 1.65. TechTarget, Inc. has a 52-week low of $22.82 and a 52-week high of $41.93. The company has a market capitalization of $848.11 million, a PE ratio of -69.07, a P/E/G ratio of 31.84 and a beta of 1.03. The firm's fifty day moving average is $26.64 and its two-hundred day moving average is $28.65.

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