Forrester Research (FORR) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Forrester Research (NASDAQ:FORR) from a buy rating to a hold rating in a research report released on Saturday, January 6th.

Separately, Zacks Investment Research cut shares of Forrester Research from a strong-buy rating to a hold rating in a report on Tuesday, December 26th.

Shares of Forrester Research (NASDAQ:FORR) opened at $43.50 on Friday. Forrester Research has a 52-week low of $34.95 and a 52-week high of $47.75. The company has a market cap of $781.01, a P/E ratio of 42.23, a price-to-earnings-growth ratio of 3.48 and a beta of 0.46.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data 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. Forrester Research had a net margin of 5.70% and a return on equity of 13.80%. The company had revenue of $80.40 million for the quarter, compared to the consensus estimate of $78.92 million. During the same period in the prior year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. analysts anticipate that Forrester Research will post 0.92 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Tuesday, December 5th. Forrester Research’s payout ratio is 73.79%.

In other news, Director George Hornig sold 11,530 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $46.62, for a total value of $537,528.60. Following the completion of the transaction, the director now owns 18,921 shares in the company, valued at approximately $882,097.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott Chouinard sold 887 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $44.25, for a total transaction of $39,249.75. Following the completion of the transaction, the insider now owns 2,261 shares of the company’s stock, valued at approximately $100,049.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,722 shares of company stock valued at $1,142,617. Company insiders own 44.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its stake in Forrester Research by 51.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,082 shares of the technology company’s stock worth $121,000 after purchasing an additional 1,051 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Forrester Research by 59.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the technology company’s stock worth $153,000 after purchasing an additional 1,370 shares during the period. QS Investors LLC boosted its stake in Forrester Research by 9.7% during the 2nd quarter. QS Investors LLC now owns 6,130 shares of the technology company’s stock worth $240,000 after purchasing an additional 544 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in Forrester Research during the 2nd quarter worth $307,000. Finally, GSA Capital Partners LLP acquired a new stake in Forrester Research during the 2nd quarter worth $318,000. Hedge funds and other institutional investors own 54.27% of the company’s stock.

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Forrester Research Company Profile

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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