KBC Group NV Acquires 962 Shares of TechTarget, Inc. (NASDAQ:TTGT)

KBC Group NV boosted its position in TechTarget, Inc. (NASDAQ:TTGT) by 79.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,178 shares of the information services provider’s stock after purchasing an additional 962 shares during the quarter. KBC Group NV’s holdings in TechTarget were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. bought a new position in shares of TechTarget during the 3rd quarter valued at about $245,000. Intech Investment Management LLC bought a new stake in shares of TechTarget in the 3rd quarter worth approximately $257,000. Quest Partners LLC purchased a new stake in shares of TechTarget in the 3rd quarter worth about $272,000. SG Americas Securities LLC purchased a new position in shares of TechTarget during the 3rd quarter worth approximately $307,000. Finally, The Manufacturers Life Insurance Company lifted its position in TechTarget by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after buying an additional 430 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Craig Hallum reduced their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. StockNews.com began coverage on shares of TechTarget in a research report on Monday. They set a “hold” rating for the company. KeyCorp cut their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday, January 15th. Finally, Lake Street Capital decreased their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, December 30th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.14.

TechTarget Stock Performance

NASDAQ:TTGT opened at $17.52 on Tuesday. TechTarget, Inc. has a fifty-two week low of $16.59 and a fifty-two week high of $33.08. The firm has a market capitalization of $512.28 million, a PE ratio of -41.71, a PEG ratio of 139.38 and a beta of 1.02. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock’s fifty day moving average is $19.71 and its 200 day moving average is $24.84.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. During the same quarter in the prior year, the company posted $0.13 EPS. TechTarget’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that TechTarget, Inc. will post -0.46 earnings per share 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.