Ameriprise Financial Inc. Cuts Stake in Forrester Research, Inc. (FORR)

Ameriprise Financial Inc. lessened its stake in shares of Forrester Research, Inc. (NASDAQ:FORR) by 0.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 57,568 shares of the technology company’s stock after selling 330 shares during the quarter. Ameriprise Financial Inc. owned about 0.32% of Forrester Research worth $2,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan lifted its stake in shares of Forrester Research by 1.8% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 4,460 shares of the technology company’s stock worth $177,000 after buying an additional 80 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Forrester Research by 1.9% during the 1st quarter. Arizona State Retirement System now owns 5,230 shares of the technology company’s stock worth $208,000 after buying an additional 100 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Forrester Research by 0.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 38,685 shares of the technology company’s stock worth $1,515,000 after buying an additional 171 shares during the last quarter. Seizert Capital Partners LLC lifted its stake in shares of Forrester Research by 5.2% during the 2nd quarter. Seizert Capital Partners LLC now owns 6,834 shares of the technology company’s stock worth $268,000 after buying an additional 335 shares during the last quarter. Finally, Credit Suisse AG lifted its stake in shares of Forrester Research by 2.8% during the 1st quarter. Credit Suisse AG now owns 13,050 shares of the technology company’s stock worth $519,000 after buying an additional 352 shares during the last quarter. Institutional investors own 52.07% of the company’s stock.

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FORR has been the subject of a number of research reports. BidaskClub upgraded shares of Forrester Research from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Zacks Investment Research cut shares of Forrester Research from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st.

In other Forrester Research news, insider Scott Chouinard sold 887 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $44.25, for a total transaction of $39,249.75. Following the sale, the insider now directly owns 2,261 shares of the company’s stock, valued at $100,049.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Henk Broeders sold 17,632 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $41.00, for a total transaction of $722,912.00. Following the sale, the director now directly owns 18,662 shares in the company, valued at $765,142. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,083 shares of company stock valued at $2,220,057. 44.30% of the stock is owned by company insiders.

Shares of Forrester Research, Inc. (NASDAQ FORR) opened at 43.70 on Wednesday. The stock’s 50 day moving average is $42.51 and its 200-day moving average is $40.57. Forrester Research, Inc. has a 1-year low of $34.95 and a 1-year high of $45.25. The firm has a market cap of $774.93 million, a PE ratio of 44.59 and a beta of 0.44.

Forrester Research (NASDAQ:FORR) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.07. The company had revenue of $80.40 million during the quarter, compared to analyst estimates of $78.92 million. Forrester Research had a net margin of 5.70% and a return on equity of 13.76%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Analysts expect that Forrester Research, Inc. will post $1.20 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 5th. This represents a $0.76 annualized dividend and a yield of 1.74%. Forrester Research’s payout ratio is currently 73.79%.

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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Institutional Ownership by Quarter for Forrester Research (NASDAQ:FORR)

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