Goldman Sachs Group Inc. cut its stake in Forrester Research, Inc. (NASDAQ:FORR) by 18.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,071 shares of the technology company’s stock after selling 6,360 shares during the quarter. Goldman Sachs Group Inc. owned about 0.16% of Forrester Research worth $1,138,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC acquired a new stake in shares of Forrester Research during the second quarter valued at about $10,365,000. Vanguard Group Inc. grew its stake in Forrester Research by 4.8% in the second quarter. Vanguard Group Inc. now owns 961,242 shares of the technology company’s stock worth $37,633,000 after purchasing an additional 44,180 shares in the last quarter. Renaissance Technologies LLC grew its stake in Forrester Research by 5.7% in the second quarter. Renaissance Technologies LLC now owns 585,600 shares of the technology company’s stock worth $22,926,000 after purchasing an additional 31,400 shares in the last quarter. Martingale Asset Management L P grew its stake in Forrester Research by 144.2% in the second quarter. Martingale Asset Management L P now owns 42,004 shares of the technology company’s stock worth $1,645,000 after purchasing an additional 24,800 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Forrester Research by 10.1% in the second quarter. Northern Trust Corp now owns 152,154 shares of the technology company’s stock worth $5,956,000 after purchasing an additional 14,003 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors.
A number of research firms recently commented on FORR. Zacks Investment Research upgraded Forrester Research from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, October 30th. BidaskClub upgraded Forrester Research from a “hold” rating to a “buy” rating in a research note on Friday, August 25th.
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Forrester Research, Inc. (NASDAQ FORR) opened at $44.95 on Wednesday. Forrester Research, Inc. has a 52 week low of $34.95 and a 52 week high of $46.10. The company has a market capitalization of $814.27, a P/E ratio of 43.98, a price-to-earnings-growth ratio of 4.10 and a beta of 0.45.
Forrester Research (NASDAQ:FORR) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. The company had revenue of $80.40 million during the quarter, compared to the consensus estimate of $78.92 million. Forrester Research had a return on equity of 13.80% and a net margin of 5.70%. Forrester Research’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. research analysts forecast that Forrester Research, Inc. will post 0.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.69%. Forrester Research’s dividend payout ratio (DPR) is presently 73.79%.
In related news, Director Henk Broeders sold 17,632 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $41.00, for a total transaction of $722,912.00. Following the sale, the director now owns 18,662 shares of the company’s stock, valued at $765,142. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott Chouinard sold 887 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $44.25, for a total value of $39,249.75. Following the sale, the insider now directly owns 2,261 shares in the company, valued at approximately $100,049.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,163 shares of company stock worth $1,774,203. Corporate insiders own 44.30% of the company’s stock.
About Forrester Research
Forrester Research, Inc (Forrester) is an independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.
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