Zacks Investment Research upgraded shares of Forrester Research (NASDAQ:FORR) from a sell rating to a hold rating in a report published on Monday morning.
According to Zacks, “Forrester Research, Inc. is a global research and advisory firm serving professionals in 13 key roles across three distinct client segments. Their clients face progressively complex business and technology decisions every day. To help them understand, strategize, and act upon opportunities brought by change, Forrester provides proprietary research, consumer and business data, custom consulting, events and online communities, and peer-to-peer executive programs. They guide leaders in business technology, marketing and strategy, and the technology industry through independent fact-based insight, ensuring their business success today and tomorrow. “
Several other research analysts have also recently weighed in on the stock. BidaskClub cut shares of Forrester Research from a buy rating to a hold rating in a research report on Wednesday, June 13th. Barrington Research restated a hold rating on shares of Forrester Research in a research report on Friday, April 27th.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Thursday, April 26th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). Forrester Research had a return on equity of 7.62% and a net margin of 3.07%. The firm had revenue of $77.75 million during the quarter, compared to analysts’ expectations of $78.51 million. research analysts predict that Forrester Research will post 1.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 27th. Investors of record on Wednesday, June 13th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, June 12th. Forrester Research’s dividend payout ratio (DPR) is 96.39%.
In related news, Director George Hornig sold 8,100 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $42.61, for a total value of $345,141.00. Following the transaction, the director now directly owns 8,861 shares in the company, valued at $377,567.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 43.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in Forrester Research by 2.7% during the first quarter. Principal Financial Group Inc. now owns 80,746 shares of the technology company’s stock valued at $3,347,000 after acquiring an additional 2,112 shares during the last quarter. Legal & General Group Plc grew its position in Forrester Research by 30.8% during the first quarter. Legal & General Group Plc now owns 23,630 shares of the technology company’s stock valued at $977,000 after acquiring an additional 5,558 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in Forrester Research during the first quarter valued at approximately $140,000. Citadel Advisors LLC grew its position in Forrester Research by 45.5% during the first quarter. Citadel Advisors LLC now owns 34,201 shares of the technology company’s stock valued at $1,418,000 after acquiring an additional 10,700 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Forrester Research by 62.1% during the first quarter. Russell Investments Group Ltd. now owns 23,890 shares of the technology company’s stock valued at $990,000 after acquiring an additional 9,154 shares during the last quarter. Institutional investors own 57.65% of the company’s stock.
Forrester Research Company Profile
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
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