Public Sector Pension Investment Board Has $1.78 Million Position in TechTarget, Inc. (NASDAQ:TTGT)

Public Sector Pension Investment Board lifted its holdings in TechTarget, Inc. (NASDAQ:TTGT) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,206 shares of the information services provider’s stock after acquiring an additional 3,608 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.20% of TechTarget worth $1,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sei Investments Co. boosted its holdings in shares of TechTarget by 5.1% in the 2nd quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock worth $1,077,000 after acquiring an additional 1,690 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of TechTarget by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after acquiring an additional 469 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TechTarget by 1.1% in the 2nd 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 in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of TechTarget by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after acquiring an additional 8,212 shares in the last quarter. Finally, BOKF NA acquired a new position in shares of TechTarget in the 2nd quarter worth approximately $239,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Raymond James reduced their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. KeyCorp dropped their price objective on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Finally, Needham & Company LLC dropped their price objective on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.33.

TechTarget Stock Performance

Shares of TechTarget stock opened at $24.45 on Tuesday. The firm has a fifty day moving average of $27.12 and a two-hundred day moving average of $29.21. The stock has a market capitalization of $698.54 million, a price-to-earnings ratio of -97.80, a PEG ratio of 27.62 and a beta of 1.07. TechTarget, Inc. has a 52 week low of $23.11 and a 52 week high of $41.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.35 and a current ratio of 9.35.

TechTarget (NASDAQ:TTGT) last issued its 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 negative net margin of 3.84% and a positive return on equity of 5.92%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, equities research analysts predict that TechTarget, Inc. will post 0.5 EPS for the current year.

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.