BNP Paribas Financial Markets Raises Holdings in TechTarget, Inc. (NASDAQ:TTGT)

BNP Paribas Financial Markets raised its stake in TechTarget, Inc. (NASDAQ:TTGT) by 31.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,545 shares of the information services provider’s stock after acquiring an additional 3,260 shares during the quarter. BNP Paribas Financial Markets’ holdings in TechTarget were worth $331,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BOKF NA purchased a new position in TechTarget in the second quarter valued at $239,000. The Manufacturers Life Insurance Company grew its position in shares of TechTarget by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after acquiring an additional 430 shares during the period. Cornercap Investment Counsel Inc. purchased a new position in shares of TechTarget in the 3rd quarter valued at about $245,000. Intech Investment Management LLC acquired a new position in TechTarget in the 3rd quarter worth about $257,000. Finally, Quest Partners LLC purchased a new position in TechTarget during the third quarter worth approximately $272,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $21.33 on Monday. The firm has a 50-day simple moving average of $28.17 and a 200-day simple moving average of $28.45. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $623.69 million, a price-to-earnings ratio of -50.79, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. TechTarget, Inc. has a 52 week low of $20.77 and a 52 week high of $33.08.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. TechTarget’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, equities analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TTGT. Craig Hallum upped their target price on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. StockNews.com assumed coverage on shares of TechTarget in a report on Thursday, December 5th. They set a “hold” rating on the stock. Finally, KeyCorp cut their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, TechTarget presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

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.